Freeport-McMoRan Q2 Profit Beats Estimates Despite Lower Copper Output

Published: Jul 24, 2026 23:26

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Freeport-McMoRan reported on Thursday that Q2 copper production declined, while Q2 profit exceeded expectations, as higher copper prices offset the impact of lower output at its Grasberg mine in Indonesia.Copper's average realized price for the quarter was $6.17 per pound, compared with $4.54 a year earlier.Freeport-McMoRan, headquartered in Phoenix, Arizona, suspended operations at its Grasberg mine in Indonesia after approximately 800,000 metric tons of wet material flooded the site on September 8.

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