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Freeport-McMoRan shares fall on cost concerns

Miner Freeport-McMoRan has increased its copper cost estimates for this year and trimmed its copper sales guidance for this year.

Freeport-McMoRan shares fall on cost concerns Freeport-McMoRan shares fall on cost concerns Freeport-McMoRan shares fall on cost concerns Freeport-McMoRan shares fall on cost concerns Freeport-McMoRan shares fall on cost concerns

Freeport sees higher copper costs

Shares in the firm fell 6% or $3.14 to $46.70 on the New York Stock Exchange following the new guidance.

Average unit net cash costs in first-quarter 2022 were $1.