Freeport-McMoRan Plans 50% Boost in U.S. Copper Production Through Organic Growth

Freeport-McMoRan, the world's largest publicly traded copper producer, has announced a strategic shift toward organic growth, aiming to increase its U.S. copper production by up to 50% over the next five years. CEO Kathleen Quirk detailed this plan at the Reuters NEXT conference in New York on December 4, 2025, emphasizing the company's focus on leveraging existing assets and technological innovations rather than pursuing mergers and acquisitions.

"In the next five years in our U.S. business, we have the opportunity to grow by up to 50% through internal organic growth," Quirk stated. This approach underscores Freeport-McMoRan's commitment to enhancing production efficiency and capacity within its current operations.

Central to this strategy is the company's investment in advanced leaching technologies. These innovations aim to extract copper from previously uneconomical stockpiles, thereby increasing output without the need for new mining projects. In 2024, these initiatives contributed an additional 214 million pounds of copper, with 46 million pounds added in the first quarter of 2025. Freeport-McMoRan targets an annual run rate of 300 million pounds from these efforts by the end of 2025, with potential for further increases beyond this target.

This focus on organic growth contrasts with industry trends where competitors are actively seeking expansion through acquisitions. For instance, Rio Tinto has announced plans to streamline operations by focusing on divestments and productivity, aiming to generate $5–$10 billion from asset sales and other initiatives. The company also raised its 2025 copper production forecast and aims to reach 1 million tons per year by 2030, driven by strong demand and record prices.

Freeport-McMoRan's decision aligns with the anticipated rise in global copper demand, driven by the energy transition and increased electrification. By focusing on enhancing existing operations and adopting new technologies, the company aims to meet this demand while potentially reducing reliance on external acquisitions. This strategy may also contribute to job creation and economic growth in regions where Freeport-McMoRan operates, particularly in the United States.

The global copper market is experiencing supply challenges due to disruptions at major mines, including Freeport-McMoRan’s Grasberg mine in Indonesia. A mud flow incident on September 8, 2025, led to a significant reduction in production, prompting Goldman Sachs to revise its global copper supply forecasts for 2025 and 2026. The bank now projects a total supply loss of 525,000 metric tons, shifting its 2025 forecast from a surplus to a deficit.

Freeport-McMoRan's commitment to organic growth reflects a strategic response to these market dynamics. By focusing on internal development and technological advancements, the company aims to strengthen its position in the global copper market while contributing to economic development in its operational regions.

As of December 5, 2025, Freeport-McMoRan's stock (NYSE: FCX) is trading at $45.56 per share, reflecting investor confidence in the company's strategic direction.