Phoenix-based mining company Freeport-McMoRan Inc. said in a recent news release that it has sold its onshore California holdings to Sentinel Peak Resources California LLC.

Freeport-McMoRan Inc. (FCX), headquarterd in Phoenix, recently said it completed the indirect sale of its 70 percent interest in TF Holdings Limited (TFHL) to China Molybdenum Co. Ltd. for $2.65 billion in cash.

Phoenix-based mining company Freeport-McMoRan Inc. (FCX) said last week it has completed its at-the-market offering of common stock that was announced on July 27, raising $1.5 billion in gross proceeds during the sale of 116.5 million shares of FCX common stock.

In response to shareholder input, U.S.-based natural resources enterprise Freeport-McMoRan (FCX) this week announced internal restructuring and plans for strategic alternatives designed to address market challenges for its oil and gas business, from Phoenix.

Responding to a recent decline in copper prices resulting in reduced capital expenditures and lower production levels, and operating, administrative and exploration costs, Phoenix-based Freeport-McMoRan announced Aug. 27 that it has revised capital and operating plans.

Company will target spending reductions in its mining, oil and gas operations.