Freeport (FCX) Q3 Copper Price Exceeds $6.50/lb; Gold Sales Shifted to Q4

Freeport's Q3 copper production was approximately 830 million pounds, meeting expectations. The company's consolidated average realized copper price is estimated to have surpassed $6.50 per pound. Additionally, approximately 60,000 ounces of refined gold sales from PTFI have been deferred to Q4. Unit net cash costs are anticipated to be around 5% higher than the July estimate of $2.00 per pound.