Freeport-McMoRan Inc., an international mining company with headquarters with headquarters in Phoenix, Arizona, reported that its revenue for the full 2023 year was flat on the previous year at $22.9 billion, while net income for the full year slumped 47% to 1.85 billion.
Consolidated production for 2023 totaled 1.9 million tons of copper and 1.99 million ounces of gold. Gold output was up 10% year on year from 1.81 million ounces in 2022. Copper production was mostly unchanged.
Average realized prices were $3.85 per pound of copper and $1,972 per ounce for gold in 2023. The company expects its consolidated sales for 2024 to amount to 1.86 million tons of copper and 2.0 million ounces of gold.
“We enter 2024 with a focus on strong execution of our operating and investment plans, optimism on market fundamentals and a relentless drive to enhance the value of our strong portfolio of assets...During 2024, we will continue to prioritize productivity gains, operating and capital cost discipline and the advancement of organic opportunities for future long-term growth,” said Richard C. Adkerson, Chairman and CEO.
Freeport develops deposits of copper, gold and molybdenum in North and South Americas, and in Indonesia.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
