Freeport-Mcmoran Inc

Company facts

Industry

Metal Mining

Headquarters

Phoenix, Arizona

Most recent report

8-K, filed Sep 8, 2026

Incorporated

Delaware

Filings on record

1,002+ filings

On EDGAR

CIK 831259

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 3 of 12 sections worth reading, with 1 positive, 8 notable, and 5 negative flags.

• Financial Statements (Item 1)

  Full financial statements with company-specific results, risks, and new disclosures.
  Notable

  • FCX increased Cerro Verde stake from 55.08% to 55.66% for $107M in May 2026.
  • New $3.0B revolving credit facility for FCX and PTFI matures in May 2031, replacing prior 2027 facility.
  • H1 2026 share repurchases of $203M (3.4M shares); $2.8B remaining under $5.0B program.
  • MOU with Indonesia for mining rights extension beyond 2041; FCX ownership drops to ~37% from 2042.
  Negative

  • PTFI paid $220M in disputed Indonesia tax assessments from 2022 audits; expects to file objections.

• Management's Discussion (Item 2)

  Deep company-specific data: earnings, ops, guidance, capex, and recovery timeline.
  Positive

  • U.S. copper mines operating income more than doubled in first six months of 2026 vs 2025.
  Notable

  • LME copper closed at all-time high of $6.56/lb on Aug 6, 2026; COMEX at $6.70 on Aug 5, 2026.
  • MOU with Indonesia govt for life-of-resource extension of Grasberg rights beyond 2041.
  • New $3B five-year revolver in May 2026; Cerro Verde new $350M revolver.
  Negative

  • Idle facility and restoration costs totaled $284M in Q2 and $690M in H1 2026 from mud rush incident.
  • Bagdad expansion capital cost estimate rose to ~$4.5B, 30% above prior $3.5B estimate.
  • Grasberg Block Cave ramp-up: only 65% of capacity in H2 2026, 80% by mid-2027, full by end 2027.

• Risk Factors (Item 1A)

  Only update: SEC declined enforcement but FCPA probe continues.
  Notable

  • SEC notified Freeport on March 17, 2026 it does not intend to pursue enforcement action regarding PT Smelting FCPA investigation.
  Negative

  • Ongoing FCPA investigation into PT Smelting activities; outcome cannot be predicted.

What changed: Jun 2026 vs. Mar 2026

About 19% of FCX's Jun 2026 10-Q is new information. 91 paragraphs were added, 207 changed, and 89 removed. Below are the most important lines SECSift identified.

• Item 2 187
• Item 1 62
• Item 4 3
• Item 6 1
• Item 3 1
• Item 1A 1
• Item 5 1