Energy takeover is a clear sign of the metals-to-energy shift

Author: Adam Button | Category: News

Freeport-McMoran announced a $6.9B takeover of Plains Exploration, an oil company.

Both companies are based in the US, so there are no direct FX implications but an copper/gold mining giant investing its free cash flow in the oil industry is telling.

It bodes well for takeovers/investment in Canada’s oil industry and the US bakken fields. It’s also another sign that the Australian mining boom is over.