July 23 (Reuters) - Miner Freeport-McMoRan beat

Wall Street estimates for second-quarter profit on Wednesday, as

higher copper and gold prices helped offset lower production.

The results come against the backdrop of U.S. President

Donald Trump's threat to impose a 50% tariff on copper imports,

from August 1.

Freeport could be a big beneficiary, given its position as

the largest U.S. producer with more expansion options than

rivals.

Average copper prices rose in the second quarter, helped by

a weak dollar and a de-escalation in U.S.-China trade tensions,

compared to a year ago when demand was crimped by patchy

economic growth in top consumer China.

Quarterly average realized price for copper was $4.54 per

pound, compared with $4.48 per pound, while average realized

price for gold was $3,291 per ounce, compared with $2,299 per

ounce.

The company reported an adjusted profit of 54 cents per

share for the three months ended June 30, compared with

analysts' average estimate of 45 cents, according to data

compiled by LSEG.

(Reporting by Tanay Dhumal in Bengaluru; Editing by Sriraj

Kalluvila)