Freeport Lowers Gold Sales Target Following Strike

Reuters reported that Freeport McMoRan (NYSE:FCX) cut sales outlooks for gold and copper due to a strike at its Indonesia mine.

As quoted in the market news:

The previous sales volume estimates for the first quarter was for 875 million pounds of copper and 425,000 ounces of gold, including 210 million pounds and 400,000 ounces from Grasberg. Freeport said it had revised its consolidated first-quarter sales volumes to 795 million pounds of copper and 300,000 ounces of gold.

Click here to read the full Reuters report.