Freeport's Deals Fail the Smell Test: Jim Cramer
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More important for Freeport shareholders, though, is the instant re-coloration of the stock they own. Freeport was supposed to be the premier copper company in the world. Now it is an oil and copper company, where I worry that maybe something's wrong with the copper side of the equation. Freeport's major overseas copper holdings are in the Democratic Republic of the Congo and Indonesia. Lately, the company's had dire problems with the government of Indonesia and with workers at its gigantic Grasberg mine. Plus, the ore's become harder to pull out lately, and it is of a lesser grade. And could the Congo be less stable than we thought?
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