Freeport-McMoRan reported second-quarter 2026 net income attributable to common stock of $984 million ($0.68 per share) and adjusted net income of $1.1 billion ($0.74 per share). Consolidated copper sales totaled 710 million pounds with an average realized price of $6.17 per pound. The company increased its ownership in Cerro Verde to 55.66% by purchasing 2.0 million shares for $107 million. During the quarter, FCX repurchased 1.7 million shares of its own common stock for $110 million. The company is progressing with the Grasberg Block Cave ramp-up and advancing growth projects at Bagdad and El Abra. Net debt as of June 30, 2026, was $2.1 billion, excluding $3.2 billion of debt for PTFI downstream facilities. The company operates in the mining industry, producing copper, gold, and molybdenum.

Freeport-McMoRan Inc. has secured a new, five-year, $3.0 billion senior unsecured revolving credit facility, replacing its prior credit arrangement and extending its financing runway until May 2031. This substantial financing provides the company with significant liquidity and operational flexibility, while maintaining a $500 million borrowing capacity for its Indonesian subsidiary. Investors should view this as a positive development, ensuring continued capital access for major projects and mitigating near-term funding risks.

Freeport-McMoRan announced a significant operational development by entering into a Memorandum of Understanding with the Indonesian government. This agreement secures the life of resource extension for operating rights pertaining to PT Freeport Indonesia within the critical Grasberg minerals district. For investors, this development is highly material as it solidifies the long-term resource base and operational continuity of the company's core assets.