On the strength of its recently closed deal to acquire Phelps Dodge Corp. for $26.3 billion, Freeport-McMoRan Copper & Gold Inc. welcomed its accountants reports that the firm's 1st quarter income went up 89% compared to the same period in '06. In a joint statement, chairman James Moffett and CEO Richard Adkerson said, "The acquisition of Phelps Dodge is a significant event for our industry and our company. FCX has been transformed into one of the largest North American-based mining companies and the world’s largest publicly traded copper company." This scale is what boosted net income for first-quarter 2007 to $476.2 million, or $2.02 per share. FCX shares were 3 points off their all-time high of 72 in NYSE trading this morning.

Go to the earnings report from Freeport-McMoRan

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