Freeport-McMoRan

“El Abra, a project in Chile in partnership with Codelco”

Freeport is developing and expanding the El Abra copper project in Chile jointly with Chilean state producer Codelco, its JV partner.

“You've probably seen by now the recent report from S&P Global, which was released earlier this month.”

Freeport cites a new S&P Global study on copper demand in the AI era projecting a doubling of demand through 2040, positioning S&P Global as a market-research authority in copper.

“we and our partner, CODELCO, are planning a major expansion at El Abra through the addition of a new concentrator, which would provide 750 million pounds of incremental copper per annum.”

Freeport is advancing a JV expansion with Chile's state-owned CODELCO at El Abra, adding 750M lbs/year of incremental copper capacity; permit filing expected early 2026.

“Then we have, in partnership with Mitsubishi, the smelter in Indonesia.”

Freeport operates an Indonesian smelter (PT Smelting) in partnership with Mitsubishi, part of its established smelting network cited as experience supporting the new Manyar smelter startup.

“We continue to advance a major project at El Abra in partnership with Codelco, which would capitalize on a large resource we have defined and bring substantial scale and operating efficiencies to this high-class mine.”

Freeport is partnering with Chilean state copper miner Codelco on a major El Abra expansion (new concentrator adding 750 million pounds of incremental copper per annum).

“With respect to Jetti, we did do a trial at Baghdad. This was not a major deal for us. It was a stockpile that we didn't expect to use in the future and it had mixed results. But we're continuing to have dialogue with Jetti about what they may be able to bring to the table.”

Freeport tested Jetti Resources' third-party leach technology at its Baghdad mine with mixed results but continues discussions on what Jetti's technology could offer, signaling an ongoing but unproven leach-tech partnership.