FCX · 10-Q · 2026Q2 · Full report
Cerro Verde Ownership Increase
FREEPORT-MCMORAN INC · 2026-08-06 · Importance 40 · Surprise 42 · Matches filing data
FCX purchased 2.0 million Cerro Verde common shares in the open market in May 2026 for $107 million. The transaction increased FCX’s ownership interest from 55.08% to 55.66%. Cerro Verde contributed $1.5 billion of first-half 2026 unaffiliated revenue and $1.6 billion of operating income before corporate allocations. The purchase increased FCX’s exposure to the South America operations segment without involving a change of control.
Key facts
- In May 2026, we purchased 2.0 million shares of Cerro Verde common stock in the open market for $107 million, increasing our ownership interest in Cerro Verde from 55.08% to 55.66%. source
- We purchased 2.0 million shares of Cerro Verde common stock in the open market in May 2026 for a total cost of $107 million, increasing our ownership interest in Cerro Verde from 55.08% to 55.66%. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | positive | realized | +0.2% | In May 2026, we purchased 2.0 million shares of Cerro Verde common stock in the open market for $107 million, increasing our ownership… |
| cash | negative | realized | -0.2% | In May 2026, we purchased 2.0 million shares of Cerro Verde common stock in the open market for $107 million, increasing our ownership… |