Financial PerformanceThe company's 2Q guidance has been revised accordingly, with consolidated sales now expected to be lower than previously guided.
Operational ChallengesSignificant cost pressures at its US operations due to declining grades and unplanned maintenance activities have more than offset the benefit from increased, low-cost production.
Regulatory RisksFreeport is experiencing delays in obtaining a license to continue exporting copper concentrates and anode slimes from its Grasberg mine since its export license expired on May 31st.