Freeport's revenues drop by US$14 m if copper prices fall by one percent

Copper and gold producer PT Freeport Indonesia?s revenues will drop by US$14 million and its net income will fall by $7 million if copper prices fall by one percent, according to company president director Adrianto Machribie.

Further, its revenues will drop by $12 million and its net income will decline by $6 million if gold prices drop by $5 per ounce, Machribie told a mining discussion forum in Jakarta on Tuesday.

Since 1996, copper had declined by 70 cents per pound and gold had dropped by $140 per ounce, he said.

?Based on current production, this means PTFI has revenues that are $1.5 billion less, and net income that is $700 million less than 1996 levels,? Machribie added. (godang)