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- Grasberg Mud-rush Idle and Restoration Costs (worsened) — Idle facility and restoration costs totaled $690M in H1 2026, with $1.2B expected for the full year, significantly pressuring operating results.
- Indonesia Tax Assessments (new) — PTFI received $220M in disputed tax assessments for 2022, paid them, and filed objections; the amount is recorded as a long-term tax receivable.
FCX Q2 net income +27.5% to $984.0M on higher copper prices, but Grasberg mud-rush costs and lower volumes weigh
Filed August 6, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 8, 2025 · ~1 min read
Key Changes
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Net income rose 27.5% to $984M, but operating income fell 18% to $2.0B — the bottom-line gain came from a smaller below-the-line deduction, not operations.
MD&A: Results verify on EDGAR → -
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Grasberg mud-rush idle and restoration costs totaled $690M in H1 2026, with $1.2B expected for the full year; a $0.7B insurance settlement partially offset the hit.
MD&A: Grasberg verify on EDGAR → -
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FCX signed an MOU with Indonesia to extend Grasberg operating rights beyond 2041, but its ownership would drop from 48.76% to ~37% starting 2042.
Legal Proceedings verify on EDGAR →
1 more material change behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 1, 2026 · How we verify