Freeport McMoRan is putting its asset sales on hold for now after announcing a $1.5 billion equity offering on Tuesday to help ease its debt burden. The Arizona-based mining and energy giant has sold more than $4 billion in assets this year, including the sale of its Haynesville Shale assets in Louisiana for $87 million and certain oil and gas royalty interests for $102 million. Proceeds from the stock offering and asset sales will be used to pay down $19.3 billion in debt. The firm expects to work its debt load down to $10 billion by year-end 2017.
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