Freeport-McMoRan Inc. is moving forward with expansion of its Arizona mine operation and expects to make an investment decision by the end of the year, the Phoenix-based company's top executive said on an earnings call Thursday.
Freeport (NYSE: FCX) has identified an opportunity to more than double concentrator capacity of its Bagdad mining operation in northwest Arizona, and the company advanced previously completed technical and economic studies for the site in preparation for an investment decision during the second half of 2026, said Freeport CEO Kathleen Quirk.
The studies indicate an opportunity to construct new concentrating facilities to increase copper production by 200 to 250 million pounds per year and molybdenum production by 10 to 12 million pounds per year, positioning the Bagdad mine as the second largest in the nation behind Freeport’s flagship Morenci mine.
Read more of this story from the Business Journal.
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