Welcome to our dedicated page for Freeport-Mcmoran news (Ticker: FCX), a resource for investors and traders seeking the latest updates and insights on Freeport-Mcmoran stock.
Freeport-McMoRan Inc (FCX) delivers essential natural resources through its global mining and energy operations. This dedicated news hub provides investors and industry observers with authoritative updates on FCX's copper production, gold mining activities, and oil & gas developments.
Track official press releases and verified news covering quarterly earnings, operational milestones, and strategic initiatives. Our curated collection includes updates from FCX's key assets like the Grasberg copper-gold complex in Indonesia, Cerro Verde mine in Peru, and North American energy operations.
Discover timely information on production volumes, sustainability efforts, and market positioning. The resource is designed for efficient monitoring of commodity price impacts, technological advancements in mineral recovery, and regulatory developments affecting global operations.
Bookmark this page for streamlined access to FCX's evolving story in copper markets and energy sectors. Return regularly to stay informed about this industry leader's role in meeting global demand for critical industrial materials.
Freeport (NYSE: FCX) has declared quarterly cash dividends of $0.15 per share on its common stock, payable on November 1, 2024, to shareholders of record as of October 15, 2024. The dividend consists of a $0.075 base dividend and a $0.075 variable dividend, aligning with FCX's performance-based payout framework. The Board's decision to pay dividends considers various factors, including financial results, cash requirements, and global economic conditions.
FCX is a leading international metals company focused on copper production, with significant operations in Indonesia, North America, and South America. The company operates large, long-lived assets with substantial reserves of copper, gold, and molybdenum, including the Grasberg minerals district in Indonesia and the Morenci minerals district in Arizona.
Freeport-McMoRan (NYSE: FCX) has released its second-quarter and six-month 2024 financial and operating results on its website. The company will host a conference call with securities analysts at 10:00 a.m. Eastern Time to discuss the results. FCX, headquartered in Phoenix, Arizona, is a leading international metals company focused on copper production. It operates large, long-lived assets with significant reserves of copper, gold, and molybdenum.
Key assets include the Grasberg minerals district in Indonesia, one of the world's largest copper and gold deposits, as well as significant operations in North America and South America, including the Morenci minerals district in Arizona and the Cerro Verde operation in Peru. FCX aims to be a responsible copper producer, contributing positively to the global economy.
Freeport (NYSE: FCX) has completed construction of its new Manyar smelter in Indonesia and commenced commissioning operations, with full production expected by the end of 2024. The Indonesian government has approved PT Freeport Indonesia's (PT-FI) export license for copper concentrates and anode slimes through December 2024.
However, FCX anticipates a 5% and 30% decline in Q2 2024 sales for copper and gold respectively, compared to April 2024 guidance, due to a delay in the export license. Additionally, consolidated unit net cash costs are expected to rise to $1.77 per pound of copper from the previously estimated $1.57, primarily due to lower by-product credits. FCX expects its average copper realization for Q2 to be approximately $4.45 per pound.
The company is reviewing its sales guidance but does not foresee a material change to its annual 2024 copper volume guidance. A change in mine sequencing at the Grasberg Block Cave may slightly reduce expected 2024 gold sales to 1.8 million ounces from previous estimates of 2.0 million ounces. FCX will report its Q2 2024 earnings on July 23, 2024.
Freeport-McMoRan (NYSE: FCX) announced a quarterly cash dividend of $0.15 per share, payable on August 1, 2024, to shareholders recorded by July 15, 2024. The dividend includes a base of $0.075 and a variable $0.075 based on performance. Freeport-McMoRan, a leading copper producer headquartered in Phoenix, operates major assets including the Grasberg minerals district in Indonesia and the Morenci district in Arizona.
Prices for copper are surging due to supply cuts and increased demand from energy transition and AI projects, potentially marking a new supercycle. Analysts from Sprott and Trafigura highlight the supply-demand imbalance, predicting a deficit of 4-5 million tons by 2030. Yukon Metals Corp. (CSE: YMC) has doubled its land holdings to 36,000 hectares and is focusing on high-priority properties like AZ and Talbot. Freeport-McMoRan (NYSE: FCX) aims to boost copper output by 800 million pounds annually using new technology. Taseko Mines (NYSE-American: TGB) faces operational setbacks due to strikes, while Teck Resources (NYSE: TECK) saw a 74% rise in production. Ero Copper Corp. (NYSE: ERO) nears operational completion of its Tucumã Project in Brazil.
Freeport-McMoRan (NYSE: FCX) announced that Kathleen L. Quirk will receive the Ankh Award at The Copper Club’s annual dinner on June 12, 2024. The award recognizes exceptional contributions to the copper industry. Ms. Quirk, who is also the President of FCX, has taken on the role of CEO, succeeding Richard C. Adkerson. Ms. Quirk expressed pride in the recognition and is committed to enhancing value for stakeholders, driving innovation, and leveraging Freeport's resource base to meet growing copper demand.
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