Mining major Freeport Mcmoran stated in its latest earnings update while its production in line with expectations, Copper sales volumes exceeded January 2025 guidance and Gold sales volumes were impacted by timing of shipments. Net income attributable to common stock in first-quarter 2025 totaled $352 million, $0.24 per share, and adjusted net income attributable to common stock totaled $358 million, $0.24 per share. Consolidated production totaled 868 million pounds of copper, 287 thousand ounces of gold and 23 million pounds of molybdenum in first-quarter 2025.
Consolidated sales totaled 872 million pounds of copper, 128 thousand ounces of gold and 20 million pounds of molybdenum in first-quarter 2025. Consolidated sales are expected to approximate 4.0 billion pounds of copper, 1.6 million ounces of gold and 88 million pounds of molybdenum for the year 2025, including 1.0 billion pounds of copper, 500 thousand ounces of gold and 22 million pounds of molybdenum in second-quarter 2025.
Average realized prices were $4.44 per pound for copper, $3,072 per ounce for gold and $21.67 per pound for molybdenum in first-quarter 2025. Average unit net cash costs were $2.07 per pound of copper in first-quarter 2025. Unit net cash costs are expected to average $1.50 per pound of copper for the year 2025.