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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
02/28/201412:30:10Freeport-McMoRan Issues Warning on Indonesia Unit
02/28/201412:15:51Freeport-McMoRan Warns of Potential Force Majeure in Indonesia
02/26/201407:12:08UN Sends More Troops to Cooper-Producing Province in Congo
02/06/201423:42:29Indonesia Won't Relax Smelter Sureties for Ore-Export Permission...
01/22/201409:32:00Freeport-McMoRan Profit Falls Despite Revenue Growth
01/13/201408:38:11Indonesia Gives Details on Its Mineral Export Ban
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11/15/201309:19:36Omega Advisors 3Q 13F: Holdings As Of Sep 30
11/15/201309:18:03OZ Management LP 3Q 13F: Largest Purchases -2-
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11/15/201309:18:02OZ Management LP 3Q 13F: Holdings As Of Sep 30 -2-
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11/15/201309:03:09Chilton Investment Co. 3Q 13F: Holdings As Of Sep -2-
11/15/201309:03:09Chilton Investment Co. 3Q 13F: Holdings As Of Sep 30
11/15/201308:53:17D. E. Shaw & Co. LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201308:53:17D. E. Shaw & Co. LP 3Q 13F: Holdings As Of Sep 30
11/15/201308:37:12Tontine Associates 3Q 13F: Holdings As Of Sep 30
11/15/201308:37:04Tontine Associates 3Q 13F: Largest Sales
11/15/201308:27:47S.A.C. Capital Advisors LP 3Q 13F: Holdings As Of -2-

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