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Freeport-McMoRan Inc. - FCX STOCK NEWS

Welcome to our dedicated page for Freeport-McMoRan news (Ticker: FCX), a resource for investors and traders seeking the latest updates and insights on Freeport-McMoRan stock.

Freeport-McMoRan Inc. (symbol: FCX) stands as a prominent player in the global mining sector. Headquartered in the United States, the company operates a diverse portfolio of mineral assets, significant oil and gas resources, and boasts a robust production profile.

Freeport-McMoRan's operations are divided into four primary divisions: North America copper mines, South America mining, Indonesia mining, and Molybdenum mines. The company’s flagship mines include the Morenci in North America, Cerro Verde in South America, and Grasberg in Indonesia. Beyond these, Freeport-McMoRan also oversees the Rod & Refining operations and the Atlantic Copper Smelting and Refining facility.

In addition to its mining operations, Freeport-McMoRan is involved in the oil and gas sector through its wholly-owned subsidiary, Freeport-McMoRan Oil & Gas (FM O&G). FM O&G holds substantial assets across North America, including reserves in the deepwater Gulf of Mexico, onshore and offshore California, and the Haynesville Shale plays. The company also has a strong presence in the emerging shallow water ultra-deep gas trend on the shelf of the Gulf of Mexico and onshore in South Louisiana.

The company’s key revenue driver is the sale of copper, but it also benefits from its diversified portfolio which includes gold, molybdenum, and oil and gas resources. Freeport-McMoRan is known for its mature properties with long-lived reserves, as well as properties with significant development and exploration potential.

Committed to sustainable mining, Freeport-McMoRan invests in environmental programs and community development projects to ensure that its operations have a positive impact on the regions where it operates. For the latest updates and more detailed information about Freeport-McMoRan, visit their official website at www.fcx.com.

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Freeport (NYSE: FCX) has completed construction of its new Manyar smelter in Indonesia and commenced commissioning operations, with full production expected by the end of 2024. The Indonesian government has approved PT Freeport Indonesia's (PT-FI) export license for copper concentrates and anode slimes through December 2024.

However, FCX anticipates a 5% and 30% decline in Q2 2024 sales for copper and gold respectively, compared to April 2024 guidance, due to a delay in the export license. Additionally, consolidated unit net cash costs are expected to rise to $1.77 per pound of copper from the previously estimated $1.57, primarily due to lower by-product credits. FCX expects its average copper realization for Q2 to be approximately $4.45 per pound.

The company is reviewing its sales guidance but does not foresee a material change to its annual 2024 copper volume guidance. A change in mine sequencing at the Grasberg Block Cave may slightly reduce expected 2024 gold sales to 1.8 million ounces from previous estimates of 2.0 million ounces. FCX will report its Q2 2024 earnings on July 23, 2024.

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Freeport-McMoRan (NYSE: FCX) announced a quarterly cash dividend of $0.15 per share, payable on August 1, 2024, to shareholders recorded by July 15, 2024. The dividend includes a base of $0.075 and a variable $0.075 based on performance. Freeport-McMoRan, a leading copper producer headquartered in Phoenix, operates major assets including the Grasberg minerals district in Indonesia and the Morenci district in Arizona.

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Prices for copper are surging due to supply cuts and increased demand from energy transition and AI projects, potentially marking a new supercycle. Analysts from Sprott and Trafigura highlight the supply-demand imbalance, predicting a deficit of 4-5 million tons by 2030. Yukon Metals Corp. (CSE: YMC) has doubled its land holdings to 36,000 hectares and is focusing on high-priority properties like AZ and Talbot. Freeport-McMoRan (NYSE: FCX) aims to boost copper output by 800 million pounds annually using new technology. Taseko Mines (NYSE-American: TGB) faces operational setbacks due to strikes, while Teck Resources (NYSE: TECK) saw a 74% rise in production. Ero Copper Corp. (NYSE: ERO) nears operational completion of its Tucumã Project in Brazil.

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Freeport-McMoRan (NYSE: FCX) announced that Kathleen L. Quirk will receive the Ankh Award at The Copper Club’s annual dinner on June 12, 2024. The award recognizes exceptional contributions to the copper industry. Ms. Quirk, who is also the President of FCX, has taken on the role of CEO, succeeding Richard C. Adkerson. Ms. Quirk expressed pride in the recognition and is committed to enhancing value for stakeholders, driving innovation, and leveraging Freeport's resource base to meet growing copper demand.

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Freeport-McMoRan Inc. (NYSE: FCX) has published its 2023 Annual Report on Sustainability, highlighting its environmental, social, and governance performance. The report emphasizes the company's commitment to responsible production practices, stakeholder expectations, and sustainability strategy. FCX's sustainability programs are integral to its long-term success, focusing on operational efficiency, workforce development, community partnerships, and transparency. The report aligns with industry standards and reflects FCX's dedication to sustainability.
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Freeport-McMoRan Inc. (NYSE: FCX) has released its first-quarter 2024 financial and operating results on its website. The company will host a conference call to discuss the results and is a leading international metals company primarily focused on copper production.
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Freeport-McMoRan Inc. (NYSE: FCX) declared cash dividends of $0.15 per share, consisting of a base dividend of $0.075 per share and a variable dividend of $0.075 per share. The dividends are payable on May 1, 2024, to shareholders of record as of April 15, 2024. FCX aims to be a leading international metals company, primarily focused on copper production, with significant assets globally.
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Freeport-McMoRan Inc. (NYSE: FCX) appoints Kathleen L. Quirk as President and Chief Executive Officer, effective June 11, 2024. Richard C. Adkerson will remain Chairman of the Board of Directors. With 35 years of experience at the company, Quirk is set to lead Freeport's business and operations, supported by Adkerson's strategic guidance. FCX is a leading international mining company with significant copper, gold, and molybdenum reserves, operating in diverse locations worldwide.
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Freeport-McMoRan Incorporated (NYSE:FCX) expects to sell 4.1 billion pounds of copper, 2 million ounces of gold, and 85 million pounds of molybdenum in 2024. Growing demand for copper and higher prices for gold are boosting the company's fortunes, driven by closures and disruptions at various copper mines worldwide, which have driven prices higher for the metal. Industrial Info is tracking nearly $13 billion worth of active and planned projects from Freeport-McMoRan worldwide.
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Freeport-McMoRan Inc. (FCX) has released its fourth-quarter and year-end 2023 financial and operating results. The company will host a conference call to discuss the results and will make the webcast available on its website. FCX is a leading international mining company with headquarters in Phoenix, Arizona, and operates large, long-lived assets with significant reserves of copper, gold, and molybdenum.
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FAQ

What does Freeport-McMoRan Inc. do?

Freeport-McMoRan Inc. is an international mining company that focuses on the extraction and sale of minerals like copper, gold, and molybdenum, as well as oil and gas resources.

What are the main mining divisions of Freeport-McMoRan?

Freeport-McMoRan's main mining divisions are North America copper mines, South America mining, Indonesia mining, and Molybdenum mines.

Where are Freeport-McMoRan's key mines located?

Key mines include Morenci in North America, Cerro Verde in South America, and Grasberg in Indonesia.

What is Freeport-McMoRan Oil & Gas (FM O&G)?

FM O&G is a wholly-owned subsidiary of Freeport-McMoRan Inc. that operates oil and natural gas assets primarily in North America.

Where can I find the latest news about Freeport-McMoRan?

The latest news about Freeport-McMoRan can be found on their official website at www.fcx.com.

What are Freeport-McMoRan’s primary sources of revenue?

Freeport-McMoRan's primary source of revenue is the sale of copper, although it also generates income from gold, molybdenum, and oil and gas resources.

How does Freeport-McMoRan contribute to sustainability?

Freeport-McMoRan invests in environmental programs and community development projects to ensure positive impacts from its operations.

What are some of the development opportunities for Freeport-McMoRan?

The company manages mature properties with long-lived reserves and newer properties with significant development and exploration potential.

Where is Freeport-McMoRan headquartered?

Freeport-McMoRan is headquartered in the United States.

What are the main products of Freeport-McMoRan?

The main products of Freeport-McMoRan include copper, gold, molybdenum, and oil and gas resources.

Freeport-McMoRan Inc.

NYSE:FCX

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65.93B
1.44B
0.63%
83.77%
1.8%
Copper, Nickel, Lead, and Zinc Mining
Mining, Quarrying, and Oil and Gas Extraction
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United States of America
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