Freeport-McMoRan reported Q2 2024 net income of $616 million ($0.42 per share), with adjusted net income of $667 million ($0.46 per share). Consolidated copper sales totaled 931 million pounds, gold sales were 361 thousand ounces, and molybdenum sales reached 21 million pounds. Average realized prices were $4.48 per pound for copper and $2,299 per ounce for gold.Operating cash flows totaled $2.0 billion in Q2, with capital expenditures of $1.1 billion. The company's Indonesia operations achieved a significant milestone with the commencement of commissioning its new copper smelter in June 2024, targeting full ramp-up by year-end. Sales volumes were impacted by temporary shipping delays in Indonesia during June, with normal schedules resuming in July 2024.Looking ahead, FCX expects 2024 consolidated sales of approximately 4.1 billion pounds of copper, 1.8 million ounces of gold, and 82 million pounds of molybdenum. The company maintains a strong balance sheet with consolidated debt of $9.4 billion and cash and cash equivalents of $5.3 billion. Net debt totaled $0.3 billion, excluding $3.0 billion of debt for PT-FI's new downstream processing facilities.

Freeport-McMoRan reported Q2 2024 net income of $616 million ($0.42 per share), with adjusted net income of $667 million ($0.46 per share). Consolidated copper sales totaled 931 million pounds, gold sales were 361 thousand ounces, and molybdenum sales reached 21 million pounds. Average realized prices were $4.48 per pound for copper and $2,299 per ounce for gold.Operating cash flows totaled $2.0 billion in Q2, with capital expenditures of $1.1 billion. The company's Indonesia operations achieved a significant milestone with the commencement of commissioning its new copper smelter in June 2024, targeting full ramp-up by year-end. Sales volumes were impacted by temporary shipping delays in Indonesia during June, with normal schedules resuming in July 2024.Looking ahead, FCX expects 2024 consolidated sales of approximately 4.1 billion pounds of copper, 1.8 million ounces of gold, and 82 million pounds of molybdenum. The company maintains a strong balance sheet with consolidated debt of $9.4 billion and cash and cash equivalents of $5.3 billion. Net debt totaled $0.3 billion, excluding $3.0 billion of debt for PT-FI's new downstream processing facilities.