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Gold/Mining/Energy : Gold Price Monitor

GDXJ 92.07

-1.7%

4:00 PM EST

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To: goldsheet who wrote (78572)	10/17/2001 2:18:31 PM
From: Alex	Read Replies (1) of 116741

<<PRODUCTION AND SALES. FCX's Indonesian mining unit, PT Freeport Indonesia (PT-FI), recorded sales of 350.6 million pounds of copper and 686,300 ounces of gold during the third quarter of 2001, compared with 388.3 million pounds of copper and 422,700 ounces of gold during the third quarter of 2000. Gold sales were 62 percent higher in the 2001 third quarter compared to 2000 because of a significant improvement in gold grade, record gold recoveries (89.9 percent compared to prior year recoveries of 82.1 percent) and record mill throughput of 244,600 metric tons of ore per day compared to 221,500 metric tons per day last year. Copper sales were 10 percent lower than the prior year quarter primarily because of lower copper ore grades and recoveries. PT-FI estimates fourth-quarter 2001 sales to approximate 330 million pounds of copper and 440,000 ounces of gold, reflecting previously reported expected lower ore grades.>> Bob. Is this an anomaly or a trend that can be expected to continue? biz.yahoo.com

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