Freeport McMoRan to invest $4.5 billion to double output at Bagdad Copper Mine west of Prescott

Freeport-McMoRan plans to invest $4.5bn to expand its Bagdad copper and molybdenum mine in Arizona, aiming to double production by mid-2030. The project will increase annual copper output to over 400 million pounds and molybdenum to over 20 million pounds, reducing unit net cash costs by 20%. Construction will take 3.5 years, creating thousands of jobs. The company's CEO highlighted the project's role in meeting growing demand and advancing its US copper growth strategy.

Freeport-McMoRan approved a $4.5B expansion of its Bagdad mine in Arizona, up from earlier estimates. The project, starting in 2027, aims to double production by mid-2030, adding 225M lbs of copper annually. The company expects lower costs and a break-even at $4.00/lb copper, with 4,000 jobs created during construction.

Freeport McMoRan's board approved a $4.5bn expansion for its Bagdad copper and molybdenum operation in Arizona. The project aims to double mining and milling rates, increasing copper output to over 400mn pounds annually and molybdenum to over 20mn pounds annually. Construction will take 3.5 years, with initial production targeted for mid-2030, creating over 4,000 jobs.

FREEPORT-MCMORAN INC (FCX) filed an SEC Form 8-K — Other Events. 1 Freeport Announces Plans to Boost U.S. Copper & Molybdenum Production  Significant expansion and modernization program approved for Bagdad, Arizona  Bagdad to become the second-largest U.S. copper producer and a top U.S. molybdenum producer  Bagdad’s long-term cost position

Freeport-McMoRan approved a $4.5bn expansion of its Bagdad copper-molybdenum mine in Arizona, aiming to double mining and milling rates. The plan includes expanding autonomous haulage and installing a new conveyor. The project is one of the largest US copper expansions, according to the article's database.

Freeport-McMoRan (FCX) approved a $4.5B expansion of its Bagdad mine, aiming to double copper output to 400M lb/year. The project, costing 29% more than initially estimated, is expected to start production in 2030. FCX shares fell 0.3% to $61.60. The expansion aligns with U.S. efforts to boost domestic copper supply.