Contingencies and Commitments	6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Commitments	CONTINGENCIES AND COMMITMENTS Indonesia Matters Refer to Note 10 of FCX’s 2025 Form 10-K for further discussion of Indonesia matters. Long-Term Mining Rights. In February 2026, FCX and PTFI entered into a Memorandum of Understanding (MOU) with the Indonesia government for a life of resource extension of operating rights in the Grasberg minerals district beyond the current expiration in 2041. Under the terms of the MOU, FCX would maintain its current ownership interest in PTFI of 48.76% through 2041 and hold approximately 37% beginning in 2042. The existing governance and operating structure, and terms of the existing shareholder agreement, special mining business license (IUPK) and other agreements in effect will continue over the life of the resource. In June 2026, PTFI submitted its application for extension of its IUPK, and FCX and PTFI are working with the Indonesia government to complete the formal license process. The extension of operating rights and other terms are subject to, among other things, the Indonesia government’s issuance of an amended IUPK and entry into definitive agreements. Grasberg Block Cave Ramp-Up. Following the September 2025 external mud rush incident, PTFI has progressed a series of activities to address the incident and remains focused on a safe and sustainable ramp-up to full operating capacity. During the phased ramp-up period of the Grasberg Block Cave underground mine and until PTFI’s operations return to normal capacity, a portion of PTFI’s production and delivery costs will be recognized as idle facility costs, which are non-inventoriable. Idle facility and restoration costs totaled $284 million in production and delivery costs and $79 million in depreciation, depletion and amortization (DD&A) expense in second-quarter 2026, and $690 million in production and delivery costs and $172 million in DD&A expense for the first six months of 2026. Gain on PTFI Mud Rush Incident Insurance Settlement. In April 2026, PTFI collected pre-tax proceeds of $0.7 billion associated with the settlement of its insurance claim under its property and business interruption policies related to the September 2025 external mud rush incident. The gain associated with this insurance settlement was recognized in first-quarter 2026. Export Proceeds. In 2023, the Indonesia government issued a regulation that required 30% of PTFI’s gross export proceeds to be temporarily deposited into Indonesia banks for a period of 90 days before withdrawal. In March 2025, the Indonesia government amended the regulation to require 100% of PTFI’s export proceeds to be deposited into Indonesia banks for 12 months, but the amended regulation permits the use of these funds for ongoing business requirements, including dividends to shareholders, payment of taxes and other obligations to the Indonesia government, payment for materials or capital expenditures that are not available domestically and repayment of loans. Effective June 1, 2026, the Indonesia government issued additional amendments to the export proceeds regulation. PTFI is seeking clarification regarding the applicability of the amendments and continues to deposit export proceeds in Indonesia banks consistent with its historical practice. Indonesia Tax Matters In April 2026, PTFI received assessments totaling $220 million from the Indonesia tax authorities related to various 2022 audit exceptions for income and other taxes. On June 30, 2026, PTFI paid these disputed assessments, and has filed objections to the assessments because PTFI believes it has properly determined and paid its taxes. At June 30, 2026, PTFI has a long-term tax receivable for these assessments. Litigation There were no significant updates to previously reported legal proceedings included in Note 10 of FCX’s 2025 Form 10-K.

Long-Term Mining Rights. In February 2026, FCX and PTFI entered into a Memorandum of Understanding (MOU) with the Indonesia government for a life of resource extension of operating rights in the Grasberg minerals district beyond the current expiration in 2041. Under the terms of the MOU, FCX would maintain its current ownership interest in PTFI of 48.76% through 2041 and hold approximately 37% beginning in 2042. The existing governance and operating structure, and terms of the existing shareholder agreement, special mining business license (IUPK) and other agreements in effect will continue over the life of the resource.

In June 2026, PTFI submitted its application for extension of its IUPK, and FCX and PTFI are working with the Indonesia government to complete the formal license process. The extension of operating rights and other terms are subject to, among other things, the Indonesia government’s issuance of an amended IUPK and entry into definitive agreements.

Grasberg Block Cave Ramp-Up. Following the September 2025 external mud rush incident, PTFI has progressed a series of activities to address the incident and remains focused on a safe and sustainable ramp-up to full operating capacity.

During the phased ramp-up period of the Grasberg Block Cave underground mine and until PTFI’s operations return to normal capacity, a portion of PTFI’s production and delivery costs will be recognized as idle facility costs, which are non-inventoriable. Idle facility and restoration costs totaled $284 million in production and delivery costs and $79 million in depreciation, depletion and amortization (DD&A) expense in second-quarter 2026, and $690 million in production and delivery costs and $172 million in DD&A expense for the first six months of 2026.

Gain on PTFI Mud Rush Incident Insurance Settlement. In April 2026, PTFI collected pre-tax proceeds of $0.7 billion associated with the settlement of its insurance claim under its property and business interruption policies related to the September 2025 external mud rush incident. The gain associated with this insurance settlement was recognized in first-quarter 2026.

Export Proceeds. In 2023, the Indonesia government issued a regulation that required 30% of PTFI’s gross export proceeds to be temporarily deposited into Indonesia banks for a period of 90 days before withdrawal. In March 2025, the Indonesia government amended the regulation to require 100% of PTFI’s export proceeds to be deposited into Indonesia banks for 12 months, but the amended regulation permits the use of these funds for ongoing business requirements, including dividends to shareholders, payment of taxes and other obligations to the Indonesia government, payment for materials or capital expenditures that are not available domestically and repayment of loans.

Effective June 1, 2026, the Indonesia government issued additional amendments to the export proceeds regulation. PTFI is seeking clarification regarding the applicability of the amendments and continues to deposit export proceeds in Indonesia banks consistent with its historical practice.

In April 2026, PTFI received assessments totaling $220 million from the Indonesia tax authorities related to various 2022 audit exceptions for income and other taxes. On June 30, 2026, PTFI paid these disputed assessments, and has filed objections to the assessments because PTFI believes it has properly determined and paid its taxes. At June 30, 2026, PTFI has a long-term tax receivable for these assessments.