Freeport-McMoRan reported third-quarter 2024 net income of $526 million ($0.36 per share), up from $454 million ($0.31 per share) in Q3 2023. Revenues increased to $6.79 billion from $5.82 billion, driven by higher average realized copper and gold prices at $4.30 and $2,568 per unit respectively. Consolidated copper sales decreased to 1.04 billion pounds from 1.11 billion pounds, while gold sales rose to 558,000 ounces from 399,000 ounces.Operating cash flows strengthened to $1.87 billion in Q3 2024 from $1.24 billion in Q3 2023, reflecting improved pricing and operational performance. The company maintained a strong balance sheet with $5.0 billion in consolidated cash and total debt of $9.7 billion at quarter-end. Capital expenditures totaled $1.2 billion, primarily for underground development in Indonesia and downstream processing facilities.A fire incident occurred at PT-FI's new smelter in Indonesia on October 14, 2024, temporarily...Show More

Freeport-McMoRan reported third-quarter 2024 net income of $526 million ($0.36 per share), up from $454 million ($0.31 per share) in Q3 2023. Revenues increased to $6.79 billion from $5.82 billion, driven by higher average realized copper and gold prices at $4.30 and $2,568 per unit respectively. Consolidated copper sales decreased to 1.04 billion pounds from 1.11 billion pounds, while gold sales rose to 558,000 ounces from 399,000 ounces.Operating cash flows strengthened to $1.87 billion in Q3 2024 from $1.24 billion in Q3 2023, reflecting improved pricing and operational performance. The company maintained a strong balance sheet with $5.0 billion in consolidated cash and total debt of $9.7 billion at quarter-end. Capital expenditures totaled $1.2 billion, primarily for underground development in Indonesia and downstream processing facilities.A fire incident occurred at PT-FI's new smelter in Indonesia on October 14, 2024, temporarily suspending operations with estimated repair costs of $100 million expected to be covered by insurance. The company expects to recommence operations by mid-2025 and is working with the Indonesian government to maintain copper concentrate exports during the restoration period. FCX declared quarterly dividends of $0.15 per share and repurchased 1.2 million shares for $59 million during the quarter.