Freeport-McMoRan 4Q profit rises 16 percent

Published on NewsOK Modified: January 22, 2013 at 12:46 pm •  Published: January 22, 2013

For the full year, Freeport-McMoRan earned $3.04 billion, or $3.19 per share, compared with $4.56 billion, or $4.78 per share, in 2011.

Looking ahead, the Phoenix company, which owns mining operations in Indonesia and the Americas, said it expects 2013 sales of approximately 4.3 billion pounds of copper, 1.4 million ounces of gold and 90 million pounds of molybdenum, including 940 million pounds of copper, 230 thousand ounces of gold and 23 million pounds of molybdenum in the first quarter.

That compares with 2012 production of 3.65 billion pounds of copper, 1 million ounces of gold and 83 million pounds of molybdenum.

The shares gained $1.81, or 5.4 percent, to $35.45 in afternoon trading.