Freeport-McMoRan reported third-quarter 2026 copper production of approximately 830 million pounds, in line with expectations. Gold production reached approximately 230,000 ounces, also meeting forecasts. The company deferred the sale of approximately 60,000 ounces of gold from its Indonesian operations. This deferral shifted the sales to the fourth quarter. Consequently, third-quarter gold sales will decrease to approximately 100,000 ounces.
The deferral will increase unit net cash costs by approximately 5% above previous estimates. This increase stems from lower by-product credits. The company expects its average realized copper price for the quarter to exceed $6.50 per pound. U.S. operations experienced weather-related disruptions. The Grasberg underground mine in Indonesia continues its ramp-up progress.