Freeport McMoran Sees Lower Sales in Q2 on Indonesian Permit Delays

FREEPORT - U.S. copper and gold miner Freeport McMoran on Tuesday said it expects its consolidated sales of copper and gold for the second quarter to be below its April 2024 forecast due to a delay in obtaining an export license for its Indonesian subsidiary.

The company expects copper sales to be 5% below April 2024 guidance of 975 million pounds, while gold sales would be nearly 30% below guidance of 500,000 ounces.

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