Freeport-McMoRan Copper And Gold Volumes Shine, CEO Touts China, India As Major Demand Driver

Freeport-McMoRan Copper And Gold Volumes Shine, CEO Touts China, India As Major Demand Driver

Benzinga
July 23, 2025

Freeport-McMoRan Inc. (NYSE:FCX) reported better-than-expected second-quarter results on Wednesday, driven by strong copper and gold sales volumes, lower costs, and favorable pricing. The company also marked a major operational milestone with the start-up of its new copper smelter in Indonesia.

The company posted adjusted earnings of 54 cents per share, beating the consensus estimate of 44 cents. Revenue was $7.58 billion, topping expectations of $7.09 billion.

Net income attributable to common stock totaled $772 million, or 53 cents per share, while adjusted net income was $790 million, or 54 cents, after excluding net charges of $18 million.

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Second-Quarter Production And Sales Volumes

Copper production totaled 963 million pounds, with sales of 1.0 billion pounds

Gold production was 317,000 ounces, with sales of 522,000 ounces

Molybdenum production and sales both totaled 22 million pounds

All sales volumes exceeded Freeport’s April 2025 guidance. Higher U.S. milling rates and refined gold sales timing helped offset weaker ore grades in Indonesia and South America.

During the period, average realized prices stood at $4.54 per pound for copper, $3,291 per ounce for gold, and $21.10 per pound for molybdenum.

Unit net cash costs for copper averaged $1.13 per pound, well below guidance of $1.50 and down from $1.73 a year earlier, primarily due to stronger by-product credits and higher copper sales.

Tariffs And Market Premiums

Freeport ...

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