Freeport-McMoRan reported first quarter 2015 consolidated copper sales of 960 million lb, slightly more than the January 2015 estimate of 950 million lb, reflecting timing of shipments, and were higher than first-quarter 2014 sales of 871 million lb, reflecting higher volumes in North America, Indonesia and Africa. It was partly offset by lower volumes in South America primarily associated with the sale of the Candelaria and Ojos del Salado mines.
The company’s consolidated gold sales for the first quarter of 2015 were 263,000 oz, much higher than the January 2015 estimate of 225,000 oz and first quarter 2014 sales of 187,000 oz, reflecting higher operating rates at PT-FI, partly offset by the impact of the sale of the Candelaria and Ojos del Salado mines.
First-quarter 2015 consolidated molybdenum sales of 23 million lb approximated the January 2015 estimate of 23 million lb, but were lower than first-quarter 2014 sales of 27 million lb.
According to a press statement, the company continues to focus on effective execution of its operating and capital plans and on its cost management initiatives. Sales for the year 2015 are expected to be approximately4.2 billion lb of copper, 1.3 million oz of gold and 95 million lb of moly.