Freeport Indonesia sold 1,540 ounces of gold in 2017, grew 46% from 1.054 in 2016, reflecting higher gold ore grades. Its average gold prices was US$1,268, compared to US$1,237 a previous year. Freeport also sold 981 millions of copper in 2017, declined 6.9% from 2016.     

Freeport’s labor productivity continues to improve following disruptions that occurred in the first half of 2017. During fourth-quarter 2017, Freeport and union officials reached terms for a new two-year labor agreement, effective October 1, 2017.

Assuming achievement of planned operating rates for 2018, consolidated sales volumes from Indonesia mining are expected to approximate 1.2 billion pounds of copper and 2.4 million ounces of gold for the year 2018, compared with 1.0 billion pounds of copper and 1.5 million ounces of gold for the year 2017.