Freeport to boost Grasberg copper ore output
Jan 23, 2013 | 03:32 PM
| Suzy Waite
Tags
Freeport-McMoRan Copper & Gold,
copper ore,
copper,
Richard Adkerson,
Grasberg Mine,
Tenke Fungurume Mine,
Morenci Mine,
Suzy Waite
NEW YORK — Freeport-McMoRan Copper & Gold Inc. will increase daily ore output at its Deep Ore Zone Grasberg Mine in Indonesia to 80,000 tonnes per day by the end of 2013, a 60-percent increase from the 2012 rate of around 50,000 tonnes per day, which will help bring 2013 copper sales to 1.1 billion pounds.
Phoenix-based Freeport faced "a slower than anticipated ramp up" at the mine as panel repairs were "more extensive" than initially thought due to inactivity resulting from the strike at Grasberg, president and chief executive officer Richard Adkerson told analysts during a call following the release of the company’s fourth-quarter earnings results.....
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