In its conference call on the purchase of McMoRan (MMR +82.2%) and Plains Exploration (PXP...

|About: McMoRan Exploration Co. (MMR)|By:, SA News Editor

In its conference call on the purchase of McMoRan (MMR +82.2%) and Plains Exploration (PXP +26.1%), Freeport McMoRan's (FCX -13.5%) Richard Adkerson says the deal is an add-on to its mining business and not a diversion from current strategy, and FCX will continue to look for new mining opportunities. With margins and cash flows strong, FCX anticipates continuing its current dividend.