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Freeport-McMoRan Copper & Gold Inc. Reports Second-Quarter And Six-Month 2012 Results

Stocks in this article: FCX

Operating Data. Following is summary consolidated operating data for the Indonesia mining operations for the second quarters and first six months of 2012 and 2011:

  Three Months Ended   Six Months Ended
June 30, June 30,
  2012   2011 2012   2011
Copper (millions of recoverable pounds)
Production 173 261 296 545
Sales 183 265 317 543
Average realized price per pound $ 3.49 $ 4.26 $ 3.56 $ 4.23
 
Gold (thousands of recoverable ounces)
Production 230 325 459 766
Sales 247 330 513 784
Average realized price per ounce $ 1,587 $ 1,509 $ 1,639 $ 1,466
 
Unit net cash costs per pound of copper:
Site production and delivery, excluding adjustments $ 3.23 $ 1.93 $ 3.35 $ 1.88
Gold and silver credits (2.20 ) (2.06 ) (2.75 ) (2.20 )
Treatment charges 0.21 0.18 0.20 0.18
Royalty on metals 0.13   0.17   0.13   0.16  
Unit net cash costs a $ 1.37   $ 0.22   $ 0.93   $ 0.02  

a. For a reconciliation of unit net cash costs per pound to production and delivery costs applicable to sales reported in FCX's consolidated financial statements, refer to the supplemental schedule, "Product Revenues and Production Costs," beginning on page VII, which is available on FCX's website, " www.fcx.com ."

Indonesia's second-quarter 2012 copper sales of 183 million pounds and gold sales of 247 thousand ounces were significantly lower than second-quarter 2011 copper sales of 265 million pounds and gold sales of 330 thousand ounces, primarily reflecting anticipated lower ore grades and production rates.

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