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

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

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsSector newsTweets

Freeport-McMoRan Copper & Gold Inc. : Freeport-McMoRan Details Production Impact of Indonesia Mine Accident

share with twitter share with LinkedIn share with facebook
share via e-mail
06/12/2013 | 02:45pm CET
   By Saabira Chaudhuri 

Freeport-McMoRan Copper & Gold Inc. (FCX) said the estimated daily impact of temporarily suspending its operations following a fatal roof collapse at its Indonesia underground training facility last month is about three million pounds of copper and 3,000 ounces of gold.

A tunnel collapsed at Freeport-McMoRan's giant Grasberg mine in Papua province May 14, killing 28 workers undergoing safety training. The other 10 in the training session were rescued.

The training facility is located near its largest underground mine, the Big Gossan, in Papua province. The company shut down operations at all its mines in Papua for safety checks.

For the period between May 15 and Tuesday, the company said the estimated impact on PT Freeport Indonesia's production was about 80 million pounds of copper and 80,000 ounces of gold.

"This was an unprecedented event in our more than 40-year history of operations in Papua," Chairman James R. Moffett and Chief Executive Richard C. Adkerson said. "We are taking all actions required to prevent future incidents and to assure the safety of our workforce."

The Grasberg minerals district in Indonesia is one of the world's largest copper and gold deposits.

Freeport-McMoRan said PT Freeport Indonesia has conducted safety inspections throughout its operations and is working with the Indonesian Department of Energy and Mineral Resources and other authorities to resume operations in a phased approach.

Because of the temporary disruption, PT Freeport Indonesia notified its customers of a force majeure event under its concentrate sales agreements.

Shares rose 1.2% to $29.68 in recent premarket trading. The stock has dropped 13% in the past 12 months.

Write to Saabira Chaudhuri at [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
12/14 NORTHERN SPHERE MINING CORP : . Samples Elevated Copper-Molybdenum Levels from O..
12/13 FREEPORT-MCMORAN : Today’s Research Reports on Trending Tickers: Freeport-McMoRa..
12/12 NORTHERN SPHERE MINING CORP. : Samples Elevated Copper-Molybdenum Levels from On..
12/12DJFreeport Disagrees With Indonesia's $4 Billion Valuation of Grasberg Mine Sta..
11/27 Volkswagen's talks with cobalt producers end without deal
11/24 Indonesia has 'no clear structure' for a Freeport deal yet
11/24 Freeport-McMoran, Inc. (FCX) Shares Sold by Gamco Investors INC. ET AL
11/21 FREEPORT MCMORAN : Indonesia evacuates 1,148 as security forces continue to clas..
11/15 FREEPORT-MCMORAN : Today’s Research Reports on Trending Tickers: Freeport-McMoRa..
11/15 FREEPORT MCMORAN : Policeman shot dead near controversial copper mine in Papua, ..
More news
News from SeekingAlpha
12/14 Will Doctor Copper Yield As Great Returns For 2018?
12/10 Freeport Is A Buy On Any Price Weakness
12/08 Metals stocks move up as China?s commodity demand picks up
12/07 VALUATION DASHBOARD : Energy And Materials - Update
12/06 Icahn Enterprises, 11% Dividend Yield, A Winning Way To Hedge Against Market ..
Financials ($)
Sales 2017 16 007 M
EBIT 2017 3 750 M
Net income 2017 1 513 M
Debt 2017 9 461 M
Yield 2017 -
P/E ratio 2017 16,29
P/E ratio 2018 10,02
EV / Sales 2017 2,07x
EV / Sales 2018 1,73x
Capitalization 23 620 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 23
Average target price 16,6 $
Spread / Average Target 1,5%
EPS Revisions
Richard C. Adkerson Vice Chairman, President & Chief Executive Officer
Gerald J. Ford Non-Executive Chairman
Kathleen L. Quirk Chief Financial Officer, Treasurer & Executive VP
Jon C. Madonna Independent Director
Dustan E. McCoy Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
BHP BILLITON PLC2.68%106 125
RIO TINTO9.81%85 794
ANGLO AMERICAN19.18%25 987