Kathleen Quirk

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Freeport approves $4.5 billion expansion of Arizona copper mine

Leading Freeport's U.S. copper growth strategy

Freeport-McMoRan's board approved a $4.5 billion expansion of its Bagdad mine in northwest Arizona on November 4, 2026. The project would more than double mining and milling rates, lifting long-term copper output above 400 million pounds a year and molybdenum above 20 million pounds.

Updated 7 hours ago

Notable Quotes

"We are pleased to proceed with the Bagdad expansion, an important step in advancing Freeport's U.S. copper growth strategy."

from Freeport approves $4.5 billion expansion of Arizona copper mine · Updated 7 hours ago

"This low-risk brownfield project builds on Bagdad's substantial reserve base, long operating history, existing infrastructure and experienced workforce."

from Freeport approves $4.5 billion expansion of Arizona copper mine · Updated 7 hours ago