Freeport sees Indonesian copper and gold production increase in Q3
Friday, September 27 2002 - 05:48 AM WIB
?We continue mining higher-grade ore and our mining operations are performing in a strong fashion. As a result, we now expect to exceed our previous estimates of copper and gold production and sales for the third quarter. Based on production through today, we now estimate that aggregate mine production and sales for the quarter will exceed 510 million pounds of copper and 1,000,000 ounces of gold. We now estimate that PT-Freeport Indonesia?s share of copper and gold sales will exceed 440 million pounds and 840,000 ounces, including sales to our affiliated smelters, approximating or exceeding previous quarterly records.? Chairman and CEO James Moffet said after visiting Grassberg mine.
?I am also pleased to report that the morale of our personnel is high following the shooting incident that occurred several weeks ago on a remote road near Tembagapura, the primary town site in the highland area of our operations,? He said
Indonesian authorities continue to investigate the incident. The identity of the perpetrators has not been reported. PT Freeport Indonesia (PT-FI), FCX?s Indonesian subsidiary, is cooperating with the investigation and appreciates the effort of the Indonesian authorities in maintaining safety and security for its personnel and operations. (alex/robert)