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Freeport meets consensus, shows cost rise

Arizona-headquartered Freeport-McMoRan (FCX) posted second quarter adjusted earning (EBITDA) of US$2.315 billion, broadly in line with market consensus of around $2.38 billion-$2.42 billion, but highlighted higher costs going forward and the fall in copper prices.

Freeport meets consensus, shows cost rise Freeport meets consensus, shows cost rise Freeport meets consensus, shows cost rise Freeport meets consensus, shows cost rise Freeport meets consensus, shows cost rise

FCX hit by higher costs

The firm also announced an increase in its share buyback programme to $5 billion from $3 billion.

The firm is targeting net cash cost of $1.

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