FCX · 10-Q · 2026Q2 · Full report

South America Margin Improvement

FREEPORT-MCMORAN INC · 2026-08-06 · Importance 52 · Surprise 56

South America operations’ six-month copper revenue per pound increased to $6.03 in 2026 from $4.39 in 2025, a 37.4% increase. Gross profit per pound increased to $3.18 from $1.58, more than doubling year over year. Unit net cash costs remained $2.43 per pound, while by-product credits increased to $0.85 per pound from $0.41 per pound, supported by higher silver realizations of $69.33 per ounce versus $34.54.

Key facts

• Average unit net cash costs for South America operations totaled $2.48 per pound in second-quarter 2026 and $2.46 per pound in second-quarter 2025. source
• Average unit net cash costs for South America operations were $2.43 per pound for the first six months of 2026 and $2.43 per pound for the first six months of 2025. source