Freeport McMoRan Copper & Gold Inc. (FCX) will see lower copper and gold output at its Grasberg mine in Indonesia this year due a shift in the mining sequence, Chief Executive Richard Adkerson said during a conference call.

The "unusual situation" comes as the world's largest listed copper-mining company prepares to widen the open-pit mine as part of the normal mining sequence progress.

Mining operations will shift to a lower-grade area of the pit, though the company expects to be back at normal copper and gold output rates by 2013, executives said during the conference call.

Freeport will produce around 3.8 billion pounds of copper and 1.2 million ounces of gold in 2012, Adkerson said.

-By Tatyana Shumsky, Dow Jones Newswires; 212-416-3095; tatyana.shumsky@dowjones.com

Freeport McMoRan (NYSE:FCX)
Historical Stock Chart
Von Jun 2024 bis Jul 2024 Click Here for more Freeport McMoRan Charts.
Freeport McMoRan (NYSE:FCX)
Historical Stock Chart
Von Jul 2023 bis Jul 2024 Click Here for more Freeport McMoRan Charts.