Mining major Freeport Mcmoran stated in its latest quarterly earnings update yesterday its consolidated sales totaled 1.033 billion pounds of copper, 402 thousand ounces of gold and 20 million pounds of molybdenum in third-quarter 2021. Consolidated sales for the year 2021 are expected toapproximate 3.8 billion pounds of copper, 1.3 million ounces of gold and 85 million pounds of molybdenum, including 1.025 billion pounds of copper, 375 thousand ounces of gold and 22 million pounds of molybdenum in fourth-quarter 2021. Average realized prices in third-quarter 2021 were $4.20 per pound for copper, $1,757 per ounce for gold. Average unit net cash costs in third-quarter 2021 were $1.24 per pound of copper and are expected to average $1.33 per pound of copper for the year 2021 and $1.26 per pound of copper in fourth-quarter 2021. The world's largest publicly traded copper miner produced 987 million pounds of the metal in the third quarter, up sharply from 844 million tonnes in September 2020 quarter. In first three quarters of 2021, the company produced 2810 million tonnes of Copper, up around 20% compared to first three quarters of 2020.
Powered by Commodity Insights