FREEPORT-MCMORAN INC (FCX) Form 8-K — Oct 2, 2026
Freeport-McMoRan issued a third-quarter 2026 operational update showing consolidated copper production of roughly 830 million pounds and gold production of about 230 thousand ounces, both in line with expectations. Copper sales are expected to approximate the July estimate of 750 million pounds, but roughly 60 thousand ounces of refined gold sales were deferred into Q4 due to timing in Indonesia. Unit net cash costs are now expected to run about 5% above the July estimate of $2.00 per pound of copper, mainly on lower by-product credits, while the average realized copper price is expected to exceed $6.50 per pound. U.S.
Key figures
- Revenue
- 0
- Deferred Gold
- approximately 60 thousand ounces deferred from Q3 to Q4 2026
- Gold Production
- approximately 230 thousand ounces (Q3 2026)
- Unit Net Cash Cost
- approximately 5% above July 2026 estimate of $2.00 per pound of copper
- Copper Production
- approximately 830 million pounds (Q3 2026)
- Smelting Capacity
- approximately 800,000 metric tons of cathode per annum
- Gold Sales Estimate
- approximately 100 thousand ounces vs July estimate (below, due to deferral)
- Block Cave Throughput
- approximately 70,000 metric tons of ore per day
- Copper Sales Estimate
- approximately 750 million pounds (July 2026 estimate)
- Realized Copper Price
- expected to exceed $6.50 per pound
- Grasberg Mill Throughput
- approximately 140,000 metric tons of ore per day (~67% of normalized pre-September 2025 rates)
- Earnings Date
- October 27, 2026 (before market open)
- Bagdad Decision
- investment decision to double Bagdad capacity by year-end 2026
- Ramp Up Milestones
- 80% capacity mid-2027, full capacity by year-end 2027
AI analysis
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