Freeport-McMoRan Copper & Gold Inc. (NYSE FCX) downwardly revised its sales estimates for copper and gold through 2008 by 4.6 percent and 3.1 percent respectively, but said it expects an increase in gold output for 2009 and 2010, with copper holding steady in those years.

In its second quarter performance report released Tuesday, the mining company layed out five-year sales projections for the PT-Freeport Indonesia (PT-FI) mining affiliate's share of both copper and gold at the giant Grasberg mine in Indonesia.

Freeport owns 90.6 percent of the PT-FI operating unit. The government of Indonesia the owns the remaining 9.4 percent.

The company cited new geotechnical data about the mine's ore deposits for its revised production plan. An updated mine design will take slightly longer to execute than previously thought, it said.

As a result, for 2006, the company said it now expects PT-FI's share of sales at 1.2 billion lbs for copper versus previous estimates of 1.3 billion lbs. Copper sales expectations were revised down to 1.1 billion lbs in 2007 from the 1.2 billion lbs expected previously. And in 2008, it projects 1.4 billion lbs in copper sales compared with 1.5 billion lbs in earlier forecasts.

By 2009, estimates held steady at 1.2 billion lbs of copper and 2010 sales were still anticipated at 1.3 billion lbs.

Gold sales were seen remaining at 1.7 million ounces in 2006 and falling in 2007 to 1.8 million ounces from the 20.0 million ounces projected earlier.

In 2008, Freeport foresees gold sales of 1.9 million ounces, down from 2.4 million ounces projected previously.

Sales should increase by 2009 to 1.8 million ounces, up from 1.6 million ounces forecast earlier for gold sales. Gold sales were also revised up to 2.1 million ounces in 2010 from forecasts of 1.9 million ounces in earlier reports.

Total sales for the five years are now expected to be 6.2 billion lbs for copper, down from 6.5 billion lbs projected previously. And total gold sales through 2010 are now seen at 9.3 million ounces, down from 9.6 million ounces forecast previously.

Because there is more demand for the company's high-grade ore than it can meet, its sales generally match production figures with only slight variation.

In the second quarter, however, sales fell below production by more than usual because of weather-related shipping delays.

Freeport sold 221 million lbs of copper in the second quarter, whereas it produced 237 million lbs, it said.

The mining company also said it continues to analyze its longer range mine plans to assess the optimal design of the Grasberg open pit, which may affect the timing of development of the Grasberg underground block cave ore body.

PT-FI expects to complete the current long-range studies by the end of 2006, it said.