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Cerro Verde stock, copper production

Cerro Verde stock slips as Q3 copper output falls 3.9%

Published on 11/01/2026 at 01:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Cerro Verde stock faces a weaker production backdrop after Freeport-McMoRan reported lower attributable copper output from its Peru operation. Ore grades remain a challenge.

Cerro Verde production comes under pressure

  • Freeport-McMoRan's attributable copper output from Cerro Verde fell in the third quarter of 2026.
  • The nine-month production total also remained below the comparable 2025 period.
  • Lower ore grades are a challenge for the Arequipa operation, while regional shipment timing also affected results.
Cerro Verde stock, copper production, Freeport-McMoRan, Peru mining, ore grades, Illustration mit AI erstellt.
Cerro Verde stock, copper production, Freeport-McMoRan, Peru mining, ore grades, Illustration mit AI erstellt.

Freeport-McMoRan's attributable copper production from Cerro Verde fell to 219 million pounds in the third quarter of 2026 from 228 million pounds a year earlier, according to Gestión. The comparison covers July through September and represents Freeport-McMoRan's ownership share, not the mine's total production.

Nine-month output also declines

For the first nine months of 2026, Freeport-attributable production at Cerro Verde reached 631 million pounds, down from 654 million pounds in the same period of 2025. The decline marks a weaker production trend for one of Peru's major copper operations.

Freeport-McMoRan controls 55.66% of Cerro Verde, which operates in Arequipa. The mine produces copper and also has molybdenum and silver output as by-products.

Ore grades remain a key challenge

Gestión cited lower ore grades as a challenge for Cerro Verde. The publication also noted that Freeport's combined South American copper operations, which include Cerro Verde and El Abra, attributed lower regional sales partly to weaker production and shipment timing. The regional explanation does not quantify the portion caused specifically by Cerro Verde.

The same regional operations reported net cash costs of 2.39 US dollars per pound in the third quarter, up from 2.30 US dollars a year earlier. That metric covers Cerro Verde and El Abra together and should not be treated as a mine-specific cost measure.

Cerro Verde operating facts

  • Company: Sociedad Minera Cerro Verde
  • Location: Arequipa, Peru
  • Controlling shareholder: Freeport-McMoRan with a 55.66% interest
  • Third-quarter attributable copper output: 219 million pounds in July-September 2026
  • Nine-month attributable copper output: 631 million pounds through September 2026
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