Freeport-McMoRan Copper & Gold Inc. reported earnings and production results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported revenue of $4,513 million against $4,162 million a year ago. Operating income was $1,358 million against $1,297 million a year ago. Income before income taxes and equity in affiliated companies' net earnings was $1,324 million against $1,253 million a year ago. Net income attributable to company was $743 million or $0.78 diluted per share against $640 million or $0.67 per diluted share a year ago.

For the full year, the company reported revenue of $18,010 million against $20,880 million a year ago. Operating income was $5,814 million against $9,140 million a year ago. Income before income taxes and equity in affiliated companies' net earnings was $5,487 million against $8,818 million a year ago. Net income attributable to company was $3,041 million or $3.19 diluted per share against $4,560 million or $4.78 per diluted share a year ago. Net cash provided by operating activities was $3,774 million against $6,620 million a year ago. Capital expenditures totaled $976 million for fourth-quarter 2012 and $3.5 billion for the year 2012, compared with $785 million for fourth-quarter 2011 and $2.5 billion for the year 2011. Excluding amounts for pending acquisitions, capital expenditures are expected to approximate $4.6 billion for the year 2013, including $2.8 billion for major projects and $1.8 billion for sustaining capital. Total debt totaled $3.5 billion.

For the fourth quarter of 2012, consolidated sales from mines totaled 972 million pounds of copper, 254,000 ounces of gold and 21 million pounds of molybdenum, compared with 823 million pounds of copper, 133,000 ounces of gold and 19 million pounds of molybdenum for fourth-quarter 2011. Consolidated sales for the year 2012 totaled 3.65 billion pounds of copper, 1.0 million ounces of gold and 83 million pounds of molybdenum, compared with 3.70 billion pounds of copper, 1.4 million ounces of gold and 79 million pounds of molybdenum for the year 2011.

For the first quarter of 2013, the company expects sales from mines of 940 million pounds of copper, 230,000 ounces of gold and 23 million pounds of molybdenum for first-quarter 2013.

For the year 2013, consolidated sales from mines are expected to approximate 4.3 billion pounds of copper, 1.4 million ounces of gold and 90 million pounds of molybdenum.