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FREEPORT-MCMORAN INC SEC 10-Q Report

Freeport-McMoRan Inc., a leading international mining company with significant assets in copper, gold, and molybdenum, has released its Form 10-Q report for the third quarter of 2025. The report highlights the company's robust financial performance and key operational developments, despite facing significant challenges in its Indonesian operations.

Financial Highlights

  • Revenues: £6,972 million, reflecting an increase from £6,790 million in the same quarter of 2024, driven by higher sales volumes and favorable pricing conditions.
  • Operating Income: £1,972 million, up from £1,938 million in the third quarter of 2024, indicating improved operational efficiency despite challenges in Indonesia.
  • Net Income: £674 million, compared to £526 million in the third quarter of 2024, primarily due to higher operating income from U.S. and South America operations.
  • Diluted Net Income Per Share: £0.46, an increase from £0.36 in the third quarter of 2024, reflecting the overall improvement in net income attributable to common stockholders.

Business Highlights

  • Revenue Segments: The company reported revenues from various product lines, including copper concentrate, cathode, rod and other refined copper products, gold, molybdenum, and silver. Notably, copper concentrate sales contributed £1,967 million, while cathode sales were £1,817 million for the three months ended September 30, 2025.
  • Geographical Performance: The U.S. copper mines, South America operations, and Indonesia operations are key contributors to the company's performance.

    The U.S. copper mines reported revenues of £58 million, South America operations £1,183 million, and Indonesia operations £2,675 million for the three months ended September 30, 2025.

  • Sales Units: The company produced 912 million pounds of copper and sold 977 million pounds in the third quarter of 2025. Gold production was 287 thousand ounces, with sales of 336 thousand ounces. Molybdenum production was 22 million pounds, with sales of 19 million pounds.
  • New Production Launches: The company is advancing testing of innovative technology to increase production from leaching processes, targeting an annual production of 300 million pounds of copper in 2026.
  • Operational Challenges: The Grasberg minerals district experienced a mud rush incident on September 8, 2025, resulting in seven fatalities and temporary suspension of mining operations.

    This incident significantly impacted the company's operations and financial results.

  • Future Outlook: The company projects consolidated sales volumes for 2025 to include 3,500 million pounds of copper, 1.05 million ounces of gold, and 82 million pounds of molybdenum. The company is also managing operating costs and capital expenditures in response to the incident at the Grasberg minerals district.
  • Operational Adjustments: Following the mud rush incident, PTFI recorded charges totaling £195 million, including £152 million for idle facility costs and £43 million for recovery efforts. The company is conducting damage assessments and expects to write off assets damaged beyond repair.
  • Insurance Recovery: PTFI is seeking recovery of damages under its property and business interruption insurance policies, which cover up to £1.0 billion in losses, subject to certain conditions.

SEC Filing: FREEPORT-MCMORAN INC [ FCX ] - 10-Q - Nov.

06, 2025[1]

References

  1. ^ FREEPORT-MCMORAN INC [ FCX ] - 10-Q - Nov.

    06, 2025 (www.sec.gov)