Report: China's Citic Metal Among Several Parties Interested In Acquiring A Minority Stake Of Freeport-McMoran's Mining Operations - Freeport-McMoRan (NYSE:FCX)

Freeport-McMoRan IncFCX

is holding talks with potential buyers for a minority stake in its North and South American operations as part of a strategy to shed assets to lower its debt load.

Bloomberg

reported Thursday evening that Freeport-McMoRan has received interest from several parties to acquire a 20 percent stake in its mining operations which could sell for around $2 billion. Among interested parties including China-based Citic Metal Co, several wealth funds and a Canadian pension fund. Related Link:

Jim Cramer Says 'No One Cares' About Freeport-McMoRan's Asset Sale To Pay Down Debt Freeport McMoRan has been active in shedding assets as of late. The company most recently sold its Tenke Fungurume mine to China Molybdenum Co. for $2.65 billion. In February the company sold a $1 billion stake in its Morenci mine in Arizona. Shares of Freeport-McMoRan were trading lower by around 1 percent Friday morning.

Market News and Data brought to you by Benzinga APIs