Key Takeaways Freeport-McMoRan Inc. (FCX) saw a notable reduction in its average unit net cash cost per pound of copper in the second quarter of 2025 to just $1.13, a sharp improvement from $1.73 a year earlier and well below its guidance of $1.50. The decline was fueled by operational efficiencies, higher gold credits and an uptick in copper sales volumes. Lower costs contributed to stronger profit margins in the quarter. Freeport's outlook for the third quarter, however, suggests higher costs on a sequent ...