Freeport McMoRan CEO: Indonesian Copper, Gold Output To Fall
19 Januar 2012 - 5:42PM
Dow Jones News
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
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