Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Freeport-McMoran    FCX

News SummaryMost relevantAll newsSector newsTweets

Freeport-McMoRan Copper & Gold Inc. : Freeport Indonesia CEO : 2013 Output Likely +30% Vs 2012

share with twitter share with LinkedIn share with facebook
share via e-mail
02/28/2013 | 06:47am CEST
   By I Made Sentana 

JAKARTA--PT Freeport Indonesia expects output from its Grasberg copper and gold mine to rise 30% this year, after falling around 40% last year, the chief executive said Thursday.

"We expect production to recover this year, but I'm not sure it will reach the level before the labor strike [of 2011]," Rozik B. Soetjipto, CEO of the Indonesian unit of Freeport-McMoRan Copper & Gold Inc. (FCX), told Dow Jones Newswires on the sidelines of the Economist Conferences Indonesia Summit.

A rise in production is likely this year as the company will be entering an area with a higher mineral content, said Mr. Soetjipto, a former Minister of Public Works.

Freeport Indonesia during the first three months of last year was still affected by the impact of a prolonged labor strike, and was mining an area with 20% less mineral content "than usual," Mr. Soetjipto said.

The company signed a 30-year 'contract of work' with the government in 1991, with options for two 10-year extensions.

It is discussing with the government to extend the contract, before deciding on further investment, Mr. Soetjipto said.

Freeport-McMoRan is willing to sell up to 10.64% of Freeport Indonesia to local investors by 2021, to satisfy a condition for extension; the government, which owns 9.36%, hasn't yet accepted the offer, Mr. Soetjipto said.

Write to I Made Sentana at i-made.sentana@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
08/18 FREEPORT-MCMORAN INC : Other Events, Financial Statements and Exhibits (form 8-K..
08/18 FREEPORT MCMORAN : FCX Announces Redemption of Five Series of Senior Notes
08/18 FREEPORT MCMORAN : Announces Redemption of Five Series of Senior Notes
08/18 FREEPORT MCMORAN : PT Freeport Indonesia, a Freeport-McMoRan Company, Invests in..
08/18 FREEPORT MCMORAN : Grasberg mine contract extended
08/12 TUCSON TECH : Sahuarita planning to build its first tech park
08/10 TUCSON TECH : Sahuarita planning to build its first tech park
08/10 FREEPORT MCMORAN : Cox Oil Offshore, L.L.C. Purchases Majority Interest in Gulf ..
08/04 FREEPORT MCMORAN : Management's Discussion and Analysis of Financial Condition a..
08/04 FREEPORT MCMORAN : PT Freeport Indonesia, a Freeport-McMoRan Company, Supports R..
More news
News from SeekingAlpha
08/17 Why The Bear Will Be Held At Bay
08/17 Tracking Carl Icahn's Portfolio - Q2 2017 Update
08/16 Freeport McMoRan today's top gainer amid surging industrial metals prices
08/16 Freeport's Indonesia operations hit by flash floods
08/14 NEVSUN RESOURCES : Copper/Zinc Catalysts Ahead
Financials ($)
Sales 2017 14 912 M
EBIT 2017 3 242 M
Net income 2017 1 285 M
Debt 2017 9 846 M
Yield 2017 -
P/E ratio 2017 16,06
P/E ratio 2018 10,55
EV / Sales 2017 2,03x
EV / Sales 2018 1,75x
Capitalization 20 479 M
Duration : Period :
Freeport-McMoran Technical Analysis Chart | FCX | US35671D8570 | 4-Traders
Technical analysis trends FREEPORT-MCMORAN
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 22
Average target price 14,9 $
Spread / Average Target 5,5%
EPS Revisions
Richard C. Adkerson Vice Chairman, President & Chief Executive Officer
Gerald J. Ford Non-Executive Chairman
Harry Milton Conger President & COO-Americas Mining Division
Kathleen L. Quirk Chief Financial Officer, Treasurer & Executive VP
Jon C. Madonna Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
BHP BILLITON PLC3.41%100 980
RIO TINTO8.58%81 752
GRUPO MEXICO S.A. DE C.V.2.29%25 157