SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 22, 1998
McMoRan Exploration Co.
Delaware 001-07791 72-1424200
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation or Number)
organization)
1615 Poydras Street
New Orleans, Louisiana 70112
(Address of principal executive offices)
Registrant's telephone number, including area code: (504) 582-4000
Item 5. Other Events.
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The following news release was made by McMoRan Exploration Co. on
December 22, 1998:
NEW ORLEANS, LA, December 22, 1998 - McMoRan Exploration Co.
(NYSE:MMR), the parent of Freeport-McMoRan Sulphur LLC (FM
Sulphur), announced today that the International Trade Commission
(ITC) has determined that revoking the antidumping finding
covering imports of elemental sulphur from Canada would not be
likely to lead to material injury to the domestic sulphur
industry. As a result, the Department of Commerce (DOC) will
soon revoke the antidumping finding. However, the revocation
will not take effect until January 1, 2000. The finding will
continue to apply to imports subject to the finding entering the
United States prior to that date.
Robert M. Wohleber, President and Chief Operating Officer of
FM Sulphur, said, "We are disappointed that the ITC did not
recognize the importance to the domestic sulphur industry of
maintaining the antidumping finding. However, because of the
delayed effective date for revocation of the finding, the
revocation should have no immediate impact on our business. Over
the longer term, FM Sulphur will take the steps necessary to
protect itself against unfairly traded imports, using the
measures provided by law. While the ITC vote will lead to
termination of the relief granted in 1973, FM Sulphur and other
U.S. producers have the right to petition the DOC and the ITC for
a new antidumping order, if the circumstances confronting the
domestic industry warrant that action." MMR is an independent
public company engaged in the exploration, development and
production of oil and gas offshore in the Gulf of Mexico and
onshore in the Gulf Coast area; and the mining, purchasing,
transporting, terminaling and marketing of sulphur.
SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.
McMoRan Exploration Co.
By: /s/ C. Donald Whitmire
--------------------------------
C. Donald Whitmire
Vice President & Controller -
Financial Reporting
(authorized signatory)
Date: January 4, 1999
