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Freeport McMoRan CEO: Seeing 'Progress' In Indonesia Operations

By Tatyana Shumsky Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Freeport McMoRan Copper & Gold Inc.'s (FCX) copper-mining operations in Indonesia are back on track after labor-related disruptions during the first quarter, Chief Executive Richard Adkerson said. Freeport's Indonesia operations suffered a disruption in March 2012 as union and non-union workers returned to the mine early this year following a three-month strike at the end of 2011. "We had a roughly three-week suspension of activities as we met with our workforce to discuss certain issues," Adkerson said during a conference call to discuss the company's first-quarter earnings. "We are seeing progress in returning to normal operations," Adkerson said, adding that milling rates are back above 200,000 tons per day, after being limited to around 115,000 tons per day throughout the first quarter. The shutdown resulted in Freeport losing around 80 million pounds of copper output and around 125,000 ounces of gold production, helping to slash first-quarter earnings by 49%. -By Tatyana Shumsky, Dow Jones Newswires; 212-416-3095; tatyana.shumsky@dowjones.com Order free Annual Report for Freeport-McMoRan Copper & Gold, Inc. Visit http://djnweurope.ar.wilink.com/?ticker=US35671D8570 or call +44 (0)208 391 6028

Stock News for Freeport Mcmoran (FCX)
DateTimeHeadline
05/23/201314:31:36Copper Hits One-Week Low as Chinese Manufacturing Disappoints
05/23/201310:01:11Copper Slumps on Weak Chinese Manufacturing, Fed Worries
05/22/201313:58:09Copper Ends Near Six-Week High, Trims Gains on Bernanke
05/22/201302:43:10Freeport Indonesia CEO: Uncertain When Mining Operations to Resume
05/20/201316:04:07Copper Gains on Mine Stoppage Despite China Property Worries
05/20/201315:33:11Correction to Plains Exploration Merger Story
05/20/201315:30:10Plains Exploration Board Approves Freeport-McMoRan Deal
05/20/201315:04:49Plains Exploration Board Approves Merger With Freeport-McMoRan
05/20/201310:16:48Copper Inches Up As Supply Disruptions Offset Demand Worries
05/20/201310:00:02Indonesian Mine Still Closed; Hopes Fade for Trapped
05/20/201309:29:17U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
05/20/201308:52:05Plains Exploration to Pay $3 Special Dividend if Freeport-McMoRan...
05/17/201313:56:56Copper Rises on Brighter Economic Data, Supply Disruption
05/17/201309:31:12Copper Climbs on Higher EU Auto Sales, Grasberg Disruption
05/16/201308:58:35Plains: Majority of Voting Shareholders Choose Freeport Stock...
05/15/201323:46:39Indonesia Police: Another Worker Found Dead at Freeport's Collapsed...
05/15/201301:03:104 Killed, 23 Still Trapped in Freeport Mine Tunnel Collapse -Indonesia...
05/14/201310:40:33Copper Falls on Worries of Weaker Demand From Europe, China
05/14/201306:18:41Freeport Indonesia Tunnel Collapse Is Outside of Mining Areas...
05/13/201308:24:38Plains Exploration CEO Urges Shareholders to Back Freeport-McMoRan...

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