Freeport-McMoRan approves $4.5 billion expansion of Bagdad copper mine

Bitget2026/11/04 13:06

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Freeport-McMoRan's board approved a $4.5 billion expansion and modernization of its Bagdad copper and molybdenum mine in Arizona.
Annual copper production is expected to exceed 400 million pounds, up approximately 225 million pounds, making Bagdad the second-largest US copper mine.
Molybdenum output is projected to exceed 20 million pounds annually, an increase of approximately 12 million pounds.
Initial production is targeted for mid-2030 following approximately three and a half years of construction.
Long-term unit net cash costs are expected to decline approximately 20%, supported by economies of scale, technology and molybdenum byproduct credits.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Freeport-McMoRan Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 202611040800BIZWIRE_USPR_____20261103_BW971740) on November 04, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Freeport-McMoRan approves $4.5 billion expansion of Bagdad copper mine

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