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Freeport finalizes buy of cobalt refiner OM Group

Keywords: Tags  Freeport, Freeport-McMoRan Copper & Gold, OM Group, Freeport Cobalt, cobalt refinery, Lundin Mining, Générale des Carrières et des Mines, Gecamines

NEW YORK — Freeport-McMoRan Copper & Gold Inc. has completed its acquisition of OM Group Inc., a cobalt chemical refinery located in Kokkola, Finland.

Freeport will be the main operator of the venture, now called Freeport Cobalt, with a 56-percent ownership interest. Other partners include Lundin Mining Corp. (24 percent) and La Générale des Carrières et des Mines (20 percent).

This acquisition enhances Freeport’s cobalt position, the Phoenix-based company said March 29.

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