Freeport produces 830 million pounds of copper

• Freeport reported third-quarter consolidated copper production of approximately 830 million pounds, aligning with corporate expectations.
• The company experienced a delay in gold sales at its Indonesian operations, resulting in the deferral of roughly 60,000 ounces into the fourth quarter.
• The company stated it expects to double the capacity of its Bagdad operation in Arizona following an investment decision targeted for year-end 2026.

Freeport (NYSE:FCX) reported third-quarter consolidated copper production of approximately 830 million pounds and gold production of 230,000 ounces.

The total copper output met internal expectations as slightly better results from international sites offset lower production at domestic operations.

The company stated that timing changes at its Indonesian subsidiary resulted in the deferral of approximately 60,000 ounces of refined gold sales into the fourth quarter.

The firm now estimates its third-quarter consolidated unit net cash costs will rise roughly 5% above its previous $2 per pound estimate due to lower by-product credits.

The business stated that upgrades to the material handling system at the Grasberg Block Cave are currently progressing toward an early 2027 completion.

The company expects to reach 80% capacity at the underground mine by mid-2027 while evaluating a potential transformative expansion at its South American facilities.