Freeport Provides Third-Quarter 2026 Operational Update
Freeport's Q3 2026 copper production of ~830 million pounds was in line with expectations, and copper sales should approximate the July estimate of 750 million pounds. Gold sales are tracking below plan at ~100 thousand ounces as ~60 thousand ounces of refined gold were deferred from Q3 to Q4 on timing in Indonesia, pushing unit net cash costs ~5% above the July $2.00/lb estimate. The Grasberg recovery remains on track, with mill throughput at ~67% of pre-incident rates and targets intact for 80% capacity by mid-2027 and full capacity by year-end 2027; the PTFI smelter restarted in late August 2026.
Key figures
- Revenue
- 0
- Deferred gold oz
- 60000
- Gold production oz
- 230000
- Copper production lbs
- 830000000
- Gold sales estimate oz
- 100000
- Copper sales estimate lbs
- 750000000
- Unit cost vs july estimate
- approximately 5% above
- Grasberg mill throughput tpd
- 140000
- Realized copper price per lb
- >$6.50
- July unit net cash cost per lb
- 2
- Grasberg block cave throughput tpd
- 70000
- Smelting capacity tonnes per annum
- 800000
- Grasberg throughput pct of normalized
- 67%
AI analysis
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