Freeport-McMoRan Consolidated

Consolidated portfolio rollup for Freeport-McMoRan (FCX), a leading international copper producer headquartered in Phoenix, Arizona. Portfolio spans seven U.S. copper operations (Arizona and New Mexico), two Colorado molybdenum mines, Cerro Verde (Peru), El Abra (Chile) and the Grasberg minerals district (Indonesia), plus smelting/refining in Indonesia, Spain and the U.S. Reserves determined at $3.25/lb Cu, $1,600/oz Au, $14.00/lb Mo; resources assessed at $3.75/lb Cu, $1,700/oz Au, $17/lb Mo, $20/oz Ag. 2025 results impacted by the September 2025 mud rush incident at the Grasberg Block Cave mine (seven fatalities; phased restart from Q2-2026). 2026e: sales 3.38 blb Cu, 800 koz Au, 90 Mlb Mo; capex $4.3B ($3.0B major projects, $1.3B sustaining); operating cash flow ~$8B at $5.00/lb Cu.