Freeport: Q1 2025 gold sales about 100 thousand ounces below guidance
Freeport said first-quarter 2025 copper and gold production approximated expectations, but Indonesian shipment timing reduced gold sales and raised unit costs. The company does not expect a material change to its 2025 annual consolidated sales guidance, and copper prices realized above the LME average.
Key points
- Gold sales expected about 100 thousand ounces below the January 2025 guidance of 225 thousand ounces, due to the timing of PT Freeport Indonesia shipments
- Copper sales expected in line with the January 2025 guidance of 850 million pounds
- Unit net cash costs expected about 5% above the January 2025 guidance of $2.05 per pound of copper
- Average realized copper price expected to be about $4.40 per pound, versus the LME average of $4.24 per pound; first-quarter earnings to be released April 24, 2025
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:21 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 31, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.