Freeport profit rises on higher production

Jan 22 (Reuters) - Freeport-McMoRan Copper & Gold Inc , panned for its $9 billion bid to buy two U.S. oil and gas companies, reported a 16 percent rise in quarterly profit on higher copper and gold production.

Net income rose to $743 million, or 78 cents per share, from$640 million, or 67 cents per share, a year earlier.

Revenue rose 8 percent to $4.51 billion.

Freeport, the world's largest listed copper producer, said early last month it would buy Plains Exploration & Production Co and McMoRan Exploration Co to enter the energy business.