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Freeport-McMoRan Copper & Gold Inc. Reports Third-Quarter And Nine-Month 2012 Results

Operating Data. Following is summary consolidated operating data for the North America copper mines for the third quarters and first nine months of 2012 and 2011:

  Three Months Ended     Nine Months Ended
September 30, September 30,
  2012     2011 2012     2011
Copper (millions of recoverable pounds)
Production 337 322 1,005 917
Sales, excluding purchases 331 307 1,030 914
Average realized price per pound $ 3.58 $ 4.05 $ 3.66 $ 4.19
 
Molybdenum (millions of recoverable pounds)
Production a 8 10 27 27
 
Unit net cash costs per pound of copper:
Site production and delivery, excluding adjustments $ 1.97 $ 1.86 $ 1.88 $ 1.80
By-product credits, primarily molybdenum b (0.32 ) (0.55 ) (0.37 ) (0.52 )
Treatment charges   0.12     0.11     0.12     0.10  
Unit net cash costs c $ 1.77   $ 1.42   $ 1.63   $ 1.38  
 

a. Reflects molybdenum production from certain of the North America copper mines. Sales of molybdenum are reflected in the Molybdenum division (refer to page 9).

b. Molybdenum credits reflect volumes produced at market-based pricing and also include tolling revenues at Sierrita.

c. 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 ."

Consolidated copper sales volumes from North America of 331 million pounds in third-quarter 2012 were higher than third-quarter 2011 sales of 307 million pounds primarily reflecting increased production at the Chino mine.

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