Is Freeport-McMoRan Bracing for a Tough Q4 After Grasberg Setbacks?
Key Takeaways FCX sees minimal contribution from the Indonesia operation in Q4 due to the Grasberg incident.The mine incident drives sharp declines in expected copper and gold volumes at FCX.Lower volumes threaten Freeport's ability to leverage favorable copper and gold prices.Freeport-McMoRan Inc. (FCX) saw a rise in its top and bottom line in the third quarter on copper and gold price gains, but lower volumes were a drag. Its copper sales volumes fell approximately 6% year over year in the third quarter t ...