Cerro Verde Reports US$501.5 Million Net Income for First Half of 2026
Cerro Verde achieved a net income of US$501.5 million in H1 2026, driven by an average copper price of US$6.55/lb. This performance underscores the mine's critical role in Peru's economy and its impact on local development.
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Cerro Verde's copper production for the first half of 2026 reached 202.9 million pounds, with sales totaling 195.4 million pounds. A realized copper price of US$6.55 per pound contributed to a net income of US$501.5 million.
Freeport-McMoRan, through its subsidiaries, holds a 55.66% stake in the mine, with SMM Cerro Verde Netherlands B.V. and Compañía de Minas Buenaventura owning 21% and 19%, respectively. Capital expenditures for property, plant, and equipment amounted to US$168.3 million, reflecting ongoing investment in production capacity. The mine's performance is vital to Peru's mining GDP and regional tax revenue, with implications for local infrastructure funding.
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