On July 23, Freeport-McMoRan (NYSE: FCX) delivered an earnings report shaped by two forces that will define how investors read the quarter.
Copper and gold prices sat at historically elevated levels, lifting realizations across the board. The report also showed the company continues to move toward full production at its Grasberg mine in Indonesia. The mine was closed in 2025 following a mining accident that locked up a significant portion of the company’s production.