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Chile Codelco 1Q Copper Output 373,000 Tons Vs 414,000 1Q 2011

SANTIAGO -(Dow Jones)- Copper output at Chilean state copper company Codelco's wholly owned mines fell 10% in the first quarter to 373,000 metric tons from 414,000 tons in the same quarter last year, Codelco Chief Executive Diego Hernandez said Wednesday. Codelco's total January-March production, which includes output from the El Abra mine, in which the company holds a 49% stake, fell to 390,000 tons from 425,000 tons. El Abra is operated by 51% shareholder Freeport-McMoRan Copper & Gold Inc. (FCX). With copper averaging $3.77 a pound in the first three months of the year, Codelco's pretax profit fell to $1.45 billion from $2.32 billion during the same quarter a year ago, when copper averaged $4.38/lb. If Codelco's earnings were reported using the same tax requirements as private companies, the state-owned company would have posted a net profit of $1.12 billion, compared with $1.40 million in the first quarter of 2011. -By Carolina Pica, Dow Jones Newswires; 56-2-715-8919; [email protected]

Stock News for Freeport Mcmoran (FCX)
DateTimeHeadline
02/23/201707:09:00Copper Falls on Weak Demand
02/22/201706:25:00Copper Pulls Back Ahead of Fed Minutes
02/21/201706:57:17Current Report Filing (8-k)
02/21/201706:24:00Copper Pulls Back as Dollar Strengthens
02/20/201711:28:00Freeport-McMoRan Won't Accept Terms of Indonesia's Permit Deal...
02/20/201711:04:00Freeport-McMoRan Won't Accept Terms of Indonesia's Permit Deal...
02/20/201710:52:00Freeport-McMoRan Refuses Indonesia's Permit Deal
02/20/201709:28:00Freeport-McMoRan Updates Status of PT Freeport Indonesia Operations
02/20/201707:31:00Mine Disputes Boost Copper
02/20/201701:14:00Freeport-McMoRan Considers Arbitration on Contract Dispute With...
02/20/201700:52:00Freeport-McMoRan Considers Arbitration on Contract Dispute With...
02/20/201700:46:00Correction to Freeport-McMoRan CEO Headline
02/17/201723:16:00Indonesia Approves Export Licenses for Two Copper Mines -- Update
02/17/201717:22:54Statement of Changes in Beneficial Ownership (4)
02/17/201717:22:28Statement of Changes in Beneficial Ownership (4)
02/17/201708:45:00Indonesian Government Approves Export License for 2 Copper Mines
02/17/201706:54:00Copper Eases Ahead of Mine Labor Talks
02/16/201707:07:00Copper Pulls Back From Recent Highs
02/15/201706:31:00Copper Eases as Striking Miners Return to Negotiations
02/14/201707:12:00Copper Continues to Rise as Supply Issues Spread

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