Freeport-McMoRan beat Wall Street estimates for third-quarter profit on Tuesday, as higher copper prices offset lower output at its Grasberg complex in Indonesia, which is still recovering from a September 2025 mud rush incident.
Mine supply disruptions and resilient demand in top consumer China lifted average copper prices on the London Metal Exchange by 43% from a year earlier during the quarter, while Freeport’s average realized copper price rose about 40% to $6.54 per pound.