Freeport-McMoRan beat Wall Street estimates for second-quarter profit on Thursday, as higher copper prices offset lower production at its Grasberg mine in Indonesia. Shares of the company were up 1.4% in premarket trading. Average copper prices climbed 41.5% year-on-year in the second quarter, driven by supply concerns, signs of resilient demand from top consumer China and geopolitical tensions in the Middle East. Quarterly average realized price for copper was $6.17/lb , compared with $4.54/lb a year earlier. Phoenix, Arizona-based Freeport-McMoRan had suspended operations at Indonesia's Grasberg mine after around ... (full story)