Freeport-McMoRan, in slides being presented on its Q4 earnings conference call, said progress for its Indonesia smelter projects exceeded 90% at year end. Near-term fundamentals for copper significantly improved in late 2023, Freeport said, adding that the copper price outlook is “increasingly positive.” Sees FY24 molybdenum sales 85M lbs. Sees FY24 CapEx $3.6B excluding smelter projects. Sees Q1 copper sales 1M lb, Q2 copper sales 1M lb, Q3 copper sales 1.03M lbs, and Q4 copper sales 1.06M lbs.
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