MELANY's data-driven read on Freeport-McMoran Inc. · Metal Mining.
Freeport-McMoRan holds interests in 10 copper mines, including 49% of Grasberg (copper and gold) in Indonesia, 55% of Cerro Verde in Peru, and 72% of Morenci in Arizona. Its 2025 share was roughly 1.1 million metric tons of copper, one of the world's largest volumes, plus about 530,000 ounces of gold (mostly from Grasberg) and 74 million pounds of molybdenum, with about 25 years of copper reserves at year-end.
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