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

• 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.