PR Newswire·Nov 10, 2026, 1:01 PM ET

Strong Copper Prices Show Up in Miners' Quarterly Results Alongside New Capacity Plans

Third-quarter 2026 LME copper prices averaged $6.40 per pound, while COMEX prices averaged $6.48 per pound according to Freeport-McMoRan.
Five major producers—Freeport-McMoRan, Teck Resources, Ero Copper, Trekor Metals, and Nexa Resources—reported Q3 results citing metal prices & project developments.
Freeport-McMoRan approved a $4.5 billion expansion for its Bagdad mine to double rates & increase annual copper production to over 400 million pounds.
Teck Resources reported adjusted EBITDA of $2.3 billion CAD (up 97%) & copper production up 11%, though one operation faced extended shutdowns due to extreme weather.
Ero Copper posted record Q3 results with $200.6 million adjusted EBITDA, production up 6%, & net debt reduced by approximately $100 million.
Trekor Metals reported historical record net income & adjusted EBITDA, with Gibraltar copper production up 12% & Florence Copper production up 35%.
Nexa Resources saw net revenues rise 23% year-over-year to $937 million, driven by higher zinc prices, while copper production declined 30% due to lower head grades.
Operational challenges included extreme weather shutting one site, lower grades reducing output at another, & shipment timing delays causing sales to lag production.
Several companies reported record financial performance or surpassed previous quarterly earnings figures driven by higher copper prices & disciplined execution.