Earnings call briefThird-quarter 2026
Freeport-McMoRan FCX
Freeport-McMoRan expects Bagdad investment decision in the fourth quarter
The company said discretionary projects are expected to approximate $2 billion in 2027, with roughly 50% tied to Kucing Liar and the LNG project at Grasberg.
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Freeport-McMoRan said on its third-quarter call that it expects to make an investment decision on the Bagdad expansion in the fourth quarter.
Chief Financial Officer Maree Robertson said 2027 capital expenditure is currently estimated at $5.2 billion, approximately $400 million above the July estimate. She said the estimates exclude projects that remain subject to completion of final studies and board approval, including the Bagdad 2X expansion project.
Quotes from the call
“We expect to make an investment decision on the Bagdad expansion in the fourth quarter.”
Key facts from the call
- Expected Bagdad investment decision
- Fourth quarter 2026
- Expected 2027 capital expenditure
- Approximately $5.2 billion, about $400 million above the July estimate, excluding projects subject to final studies and board approval
- Expected 2027 discretionary project spending
- Approximately $2 billion, roughly 50% for the Kucing Liar development and the LNG project at Grasberg
Source: Freeport-McMoRan's third-quarter 2026 earnings call, October 27, 2026.
Written by GetSignal with AI from the company's earnings call.
Not investment advice.