Freeport Lowers Forecast for Copper, Gold Sales in 2016

Published: Oct 26, 2016 15:03

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Freeport-McMoRan Copper & Gold Inc. lowered its forecast for copper and gold sales in 2016 to 4.8 billion pound and 1.26 million ounce, respectively.

SHANGHAI, Oct. 26 (SMM) - Freeport-McMoRan Copper & Gold Inc. lowered its forecast for copper and gold sales in 2016 to 4.8 billion pound and 1.26 million ounce, respectively, from 56 billion pound and 1.70 million ounce expected previously, according to wenhua.com.

The company said its net profit in Q3 was $217 million in the third quarter of the year ending September 30, compared to 3.83 billion losses in the same period of last year.

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