Oct 23 (Reuters) - Freeport-McMoRan ( FCX ) beat Wall

Street estimate for third-quarter profit on Thursday, as higher

copper prices helped counter lower production after operations

were suspended at its Grasberg mine in Indonesia.

Average copper prices rose during the quarter from the year

earlier, supported by signs of better demand in key consumer

China as authorities vowed to stabilize industrial growth and a

major hydropower project in Tibet.

Quarterly average realized price for copper was $4.68 per

pound, compared with $4.30 per pound a year earlier.

Freeport-McMoRan ( FCX ) had warned of lower consolidated copper and

gold sales in the third quarter, following a nearly month-long

halt in operations at the Grasberg mine after around 800,000

metric tons of wet material flooded the site on September 8.

Heavy mudflows had trapped seven workers underground, all of

whom were confirmed dead by the company earlier this month.

Freeport's copper production stood at 912 million

recoverable pounds during the third quarter, compared with 1.05

billion recoverable pounds a year earlier. Gold production was

at 287,000 recoverable ounces, compared with 456,000 recoverable

ounces a year ago.

The company reported an adjusted profit of 50 cents per

share for the three months ended September 30, compared with

analysts' average estimate of 41 cents, according to data

compiled by LSEG.