Brazilian miner: No interest in Freeport-McMoRan

Companhia Vale do Rio Doce SA spokesman Fernando Thompson said they have been evaluating the possible acquisition of Paranapanema S.A. subsidiaries, Caraiba Metais S.A. and Cibrafertil.

"Rumors that Vale would have made an offer for Freeport are totally baseless," Thompson said in a statement e-mailed to The Associated Press.

Freeport-McMoRan spokesman Bill Collier declined comment.

Phoenix-based Freeport McMoRan, which mines copper, gold and molybdenum, is scheduled to release second-quarter earnings next Tuesday. Its stock closed up $3.79 at $103.24 a share Friday.

Vale, headquartered Rio de Janeiro, is the world's largest iron ore producer and second-largest mining company after Anglo-Australian BHP Billiton Ltd.

On Thursday, Vale raised $11.5 billion in a stock offering in New York, Paris and Sao Paulo to finance operations and potential expansion. The amount raised was about $1.5 billion less than the company had hoped to raise.