Freeport-McMoRan Inc. Reports Consolidated Production Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 24, 2024 at 08:11 am EST
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Freeport-McMoRan Inc. reported consolidated production results for the fourth quarter and full year ended December 31, 2023. For the quarter, the company reported total copper production of 1,095 millions of recoverable pounds against 1,070 millions of recoverable pounds a year ago. Net copper production was 711 millions of recoverable pounds against 848 millions of recoverable pounds a year ago. Consolidated gold production was 573 thousands of recoverable ounces against 472 thousands of recoverable ounces a year ago. Net gold production was 281 thousands of recoverable ounces against 384 thousands of recoverable ounces a year ago. Consolidated molybdenum production was 20 millions of recoverable pounds against 22 millions of recoverable pounds a year ago. Net molybdenum production was 18 millions of recoverable pounds against 19 millions of recoverable pounds a year ago.
For the year, the company reported total copper production of 4,212 millions of recoverable pounds against 4,210 millions of recoverable pounds a year ago. Net copper production was 2,798 millions of recoverable pounds against 3,365 millions of recoverable pounds a year ago. Consolidated gold production was 1,993 thousands of recoverable ounces against 1,811 thousands of recoverable ounces a year ago. Net gold production was 1,041 thousands of recoverable ounces against 1,474 thousands of recoverable ounces a year ago. Consolidated molybdenum production was 82 millions of recoverable pounds against 85 millions of recoverable pounds a year ago. Net molybdenum production was 72 millions of recoverable pounds against 74 millions of recoverable pounds a year ago.
Freeport-McMoRan Inc. specializes in the exploration and operation of copper and gold mines located primarily in the United States, Peru, Chile, Indonesia and Congo. Net sales break down by family of products as follows:
- copper (74.6%): refined copper and copper concentrates (4.1 billion ounces sold in 2023);
- gold (14.5%): 1,713,000 ounces sold;
- molybdenum (8.4%): 1.3 billion ounces sold;
- other (2.5%).
Net sales are distributed geographically as follows: the United States (31.8%), Switzerland (17.4%), Japan (15%), Spain (5.5%), Singapore (5.1%), China (4.7%), Indonesia (3.3%), Germany (3.1%), Chile (1.9%), the United Kingdom (0.7%), and other (11.5%).
FREEPORT-MCMORAN INC. 
