Freeport McMoRan Copper & Gold’s net income attributable to common stock increased, while consolidated sales of metals decreased during the second quarter of this year, according to a report released by the mining company.

Freeport operates copper mines in Safford and Morenci.

According to the second-quarter and first six-month report made public July 21, Freeport’s net common-stock income for the second quarter of this year was $649 million, or $1.40 per share, compared to $588 million, or $1.38 per share, for the second quarter of 2009.

The report shows that consolidated sales from mines for the second quarter of this year totaled 914 million pounds of copper, 298,000 ounces of gold and 16 million pounds of molybdenum. In comparison, consolidated sales for the second quarter of 2009 were 1.1 billion pounds of copper, 837,000 ounces of gold and 16 million pounds of molybdenum for the second quarter of 2009.

Consolidated sales from mines are expected to reach approximately 3.8 billion pounds of copper, 1.8 million ounces of gold and 63 million pounds of molybdenum for all of 2010. This is expected to include 970 million pounds of copper, 410,000 ounces of gold and 15 million pounds of molybdenum for the third quarter of this year, according to the report.

Capital expenditures totaled $296 million for the second quarter and $527 billion for the first six months of 2010. The capital expenditures for 2010 are expected to reach approximately $1.7 billion for 2010, the report states.

“Our second-quarter results reflect continued strong production and cost management throughout our global portfolio of mining operations,” James R. Moffett, chairman of the board, and Richard C. Adkerson, president and chief executive officer, said in a joint written statement.

The report included information about operating and development activities at Freeport’s mines, including the mines at Morenci and Safford.

At Morenci, Freeport began a “staged ramp-up from 450,000 metric-tons of ore per day to 635,000 metric-tons a day. In addition, Freeport restarted the Morenci mill in March. The mill’s throughput average was 28,000 metric-tons per day during the second quarter. This is expected to increase to 50,000 metric-tons by 2011, according to the report.

“The increased mining and milling activities are expected to expose additional ore and enable copper production to increase by approximately 125 million pounds annually, beginning in 2011. Further increases in Morenci’s mining rate are being evaluated,” the report states.

Freeport is continuing with plans to build a sulphur burner at Safford. This project will require a capital investment of approximately $150 million and is expected to be completed in 2011.

The report also states expanded drilling activities in recent years were successful in identifying potential additional mineral resources adjacent to existing ore bodies. Those additional resources were found at Morenci, Sierrita and Bagdad mines in Arizona.

Freeport will spend an estimated $120 million for exploration in 2010 compared to $72 million in 2009, according to the report.