Freeport McMoran is selling rich copper site at Bor for USD 262,5 m

- Freeport McMoRan has reached an agreement with the mining company Lundin Mining on the sale of its 55 % share of deposits in “Cukar Peka ", but regardless of the agreed, pre-emptive right is given to a partner Canadian company "Reservoir Minerals which now has 45 % stake - Lundin Mining announced.

Reservoir Minerals has deadline until May 3 to state whether it is interested in acquisition , and if it does not show interest agreement between Freeport McMoRan and Lundin Mining will be implemented.

According to contract details, purchase price totals USD 262.5 m .

Media have so far reported on a large copper reserves at this site but investors were restrained in site value estimation until feasibility study for the opening of new mine is done.