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Markets News

Freeport-McMoRan posts third-quarter profit on higher gold prices

Oct 22 (Reuters) - Freeport McMoRan Inc reported a quarterly profit on Thursday, compared to a loss a year earlier, benefiting from higher gold prices as uncertainty fueled by the COVID-19 pandemic pushed investors toward safe-haven assets.

Net income attributable to shareholders was $329 million, or 22 cents per share, in the third quarter ended Sept. 30, compared to a net loss of $207 million, or 15 cents per share, a year earlier.

Reporting by Shradha Singh in Bengaluru; Editing by Sriraj Kalluvila

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