Freeport-McMoRan reported net income of $616 million in Q2 2024, up from $343 million in Q2 2023. Revenues increased to $6.6 billion from $5.7 billion, driven by higher copper and gold prices. Consolidated copper production reached 1.037 billion pounds, while gold production was 443,000 ounces.The company's performance was impacted by shipping delays in Indonesia due to export license renewals. PT-FI began commissioning its new copper smelter and expects full capacity by year-end 2024. FCX maintains a positive outlook on copper demand, supported by its role in renewable energy and electric vehicles.FCX expects consolidated copper sales of 4.09 billion pounds and gold sales of 1.8 million ounces for 2024. The company projects operating cash flows of $7.2 billion for the year, based on current estimates and assuming average prices of $4.25 per pound for copper and $2,300 per ounce for gold in the second half of 2024.

Freeport-McMoRan reported net income of $616 million in Q2 2024, up from $343 million in Q2 2023. Revenues increased to $6.6 billion from $5.7 billion, driven by higher copper and gold prices. Consolidated copper production reached 1.037 billion pounds, while gold production was 443,000 ounces.The company's performance was impacted by shipping delays in Indonesia due to export license renewals. PT-FI began commissioning its new copper smelter and expects full capacity by year-end 2024. FCX maintains a positive outlook on copper demand, supported by its role in renewable energy and electric vehicles.FCX expects consolidated copper sales of 4.09 billion pounds and gold sales of 1.8 million ounces for 2024. The company projects operating cash flows of $7.2 billion for the year, based on current estimates and assuming average prices of $4.25 per pound for copper and $2,300 per ounce for gold in the second half of 2024.