FCX · 10-Q · 2026Q2 · Full report

Molybdenum Production Decline

FREEPORT-MCMORAN INC · 2026-08-06 · Importance 30 · Surprise 40

Production from Freeport-McMoRan’s wholly owned Climax and Henderson molybdenum mines declined to 8 million pounds in second-quarter 2026 from 9 million pounds in second-quarter 2025. First-half production fell to 17 million pounds from 18 million pounds, while average unit net cash costs increased substantially because of lower volumes and higher supplies, energy and labor costs. The Climax open-pit mine and Henderson underground mine produce high-purity, chemical-grade molybdenum concentrate for further processing into value-added chemical products. The company expects 2026 molybdenum mine unit net cash costs to approximate $17.91 per pound.

Key facts

• Average unit net cash costs for our Molybdenum mines totaled $19.20 per pound in second-quarter 2026 and $14.20 per pound in second-quarter 2025. source
• Production from the Molybdenum mines totaled 8 million pounds in second-quarter 2026, 9 million pounds in second-quarter 2025, 17 million pounds for the first six months of 2026 and 18 million pounds for the first six months of 2025. source
• For the three months ended June 30, 2026, molybdenum mines' gross profit per pound was $4.03 and revenues per pound were $27.82. source
• For the six months ended June 30, 2026, molybdenum mines' gross profit per pound was $5.07 and revenues per pound were $26.42. source