Freeport McMoRan's profit for the fourth quarter was helped along by higher copper prices, which offset its lower production volumes, it said in its fourth-quarter results, released today. Operating income for the fourth-quarter was at $1.24billion and $6.86billion for the year. Copper output totalled 4.214Blbs for the year (2023: 2.212Blbs).
Freeport McMoRan has requested approval from the Indonesia government to permit the export of copper concentrate in 2025 "until the required repairs of its new smelter following the October 2024 fire incident and full ramp-up are complete."Current regulations in Indonesia prohibit exports of copper concentrate as of January 1, 2025.
04Blbs for Q4, down marginally on a year on year basis and 4.214Blbs for the year .Costs for 2024 decreased on the whole, totalling $1.56/lb in 2024 , however on a quarter comparative basis, the net cash per pound for copper produced in Q4 2024 was higher than in Q4 2023.For gold, the company posted output of 432,000oz in Q4 2024, and sales of 350,000oz at an average realised price of $2,628/oz. For the year, Freeport McMoRan saw an output of 1.88Moz , but higher year-on-year sales of 1.83Moz .
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