Monday, June 02, 2008
Intermezzo!!
Freeport-McMoRan profit more than doubles
Freeport-McMoRan Copper & Gold Inc said Wednesday first-quarter profit more than doubled, topping Wall Street estimates, as the miner benefited from higher metals prices, Reuters reported.
The company lowered slightly its estimate for copper sales this year, and raised its estimate for gold sales.
Freeport said first-quarter earnings were $1.1 billion, or $2.64 per share, up from $476 million, or $2.02 per share, a year earlier.
The company, which operates mines in the United States, Indonesia, Peru and Chile, said revenue rose to $5.7 billion from $2.2 billion.
Freeport said consolidated sales from mines for the full year are expected to be 4.2 billion pounds of copper, 1.4 million ounces of gold and 75 million pounds of molybdenum.
In January, the company had forecast 2008 copper sales of 4.3 billion pounds and gold sales of 1.3 million ounces. It had also said output at the vast Grasberg mine in Indonesia was expected to rebound in the second half of the year.
Source:http://www.indonesia.go.id/en/index.php?option=com_content&task=view&id=7608&Itemid=335
Freeport-McMoRan Copper & Gold Inc said Wednesday first-quarter profit more than doubled, topping Wall Street estimates, as the miner benefited from higher metals prices, Reuters reported.
The company lowered slightly its estimate for copper sales this year, and raised its estimate for gold sales.
Freeport said first-quarter earnings were $1.1 billion, or $2.64 per share, up from $476 million, or $2.02 per share, a year earlier.
The company, which operates mines in the United States, Indonesia, Peru and Chile, said revenue rose to $5.7 billion from $2.2 billion.
Freeport said consolidated sales from mines for the full year are expected to be 4.2 billion pounds of copper, 1.4 million ounces of gold and 75 million pounds of molybdenum.
In January, the company had forecast 2008 copper sales of 4.3 billion pounds and gold sales of 1.3 million ounces. It had also said output at the vast Grasberg mine in Indonesia was expected to rebound in the second half of the year.
Source:http://www.indonesia.go.id/en/index.php?option=com_content&task=view&id=7608&Itemid=335
