A major business deal involving 1 of the world’s largest copper mining firms — Phoenix-based Freeport-McMoRan Copper and Gold.

The company says it’s sold its international wire and cable business to General Cable Corporation for $735 million.

Freeport-McMoRan says it will use the money to help pay off debt following its acquisition of Phelps Dodge.

The wire and cable business, known as Phelps Dodge International Corporation, operates factories and distribution centers in 19 countries throughout Latin America, Asia and Africa.

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