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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
12/04/201419:37:46Buyout Shops Caught in Crude Exposure
11/30/201416:48:30Freeport-McMoRan Nears Settlement of Shareholder Lawsuit -- 2nd...
11/30/201416:30:37Freeport-McMoRan Nears Settlement of Shareholder Lawsuit -- Update
11/30/201415:56:34Freeport-McMoRan Nears Settlement Over McMoRan, Plains Deals
11/03/201403:14:11Indonesia September Trade Deficit Wider Than Expected
10/28/201414:40:06Threats of Mine Strikes Lift Copper Prices
10/28/201410:36:39Copper Futures Climb on Worries Of Reduced Metal Supply
10/27/201418:21:07Freeport to Address Situation in Indonesia -- Earnings Preview
09/27/201407:25:14Indonesia Mine Halts Production After Four Killed in Crash
09/15/201402:30:28Freeport-McMoRan's Indonesia Operations Unaffected by Fatal Accident
08/07/201413:04:17Freeport-McMoRan Said Considering $5 Billion Sale of California...
08/05/201422:20:41Freeport Indonesia Resumes Copper Concentrate Exports Wednesday...
08/05/201408:36:30Indonesia 2Q GDP Growth Slows to 5.12% -- Update
08/04/201405:45:24Freeport Indonesian Unit May Start Exporting Copper Concentrate...
07/25/201402:15:05Indonesia President Approves New Contract Terms With Freeport...
07/17/201404:14:23Indonesia Demands Newmont Withdraw Arbitration Filing
07/07/201404:06:22Indonesia and Freeport Agree on New Mining Contract Terms: Minister
07/01/201407:09:48Newmont Files for Arbitration Against Indonesia Government on...
06/05/201415:31:48Newmont Mining Declares Force Majeure in Indonesia -- 2nd Update
06/03/201403:16:20Newmont Stops Copper Concentrate Production in Indonesia

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