{"slug":"freeport-mcmoran","name":"프리포트맥모란","name_en":"Freeport-McMoRan Inc.","ticker":"FCX","updated_at":"2026-09-11T15:32:17.76859+00:00","canonical":"https://valuechain.wiki/freeport-mcmoran","citable":"밸류체인 그래프 기준 프리포트맥모란의 직접 연결 기업은 3곳(관계 기준 공급 1·매출 2)이고, 사슬을 2차까지 넓히면 6곳에 닿는다. 링크의 근거 출처는 7건이며 그중 1차공시가 3건이다 (valuechain.wiki, 2026-09-11 기준).","citable_en":"Per the valuechain.wiki graph, Freeport-McMoRan Inc. is directly linked to 3 companies (1 supply, 2 revenue relationships) and reaches 6 companies within two hops; the links are backed by 7 dated sources, 3 of them primary filings (as of 2026-09-11).","kicker":"구리·금 광산 운영사","kicker_en":"Copper and gold miner","lead":"미국·남미·인도네시아 광산에서 구리 정광·캐소드·로드와 금·몰리브덴을 판매한다. 광산 장비와 제련·정련 서비스에 비용을 쓰며, 인도네시아 제련 자산에도 투자한다.","lead_en":"Freeport-McMoRan sells copper concentrate, cathode and rod, along with gold and molybdenum, from operations in the United States, South America and Indonesia. It spends on mining equipment and smelting and refining services while also investing in Indonesian processing assets.","categories":[{"key":"advanced-structural-materials","ko":"첨단 구조·산업 소재","en":"Advanced Structural & Industrial Materials","theme":"materials-chemicals","theme_ko":"산업 소재·화학","theme_en":"Industrial Materials & Chemicals","theme_kind":"sector","primary":true}],"segments":{"parts":[{"name":"미국 구리 광산"},{"name":"남미 사업"},{"name":"인도네시아 사업"},{"name":"몰리브덴 광산"},{"name":"미국 로드·정련"},{"name":"Atlantic Copper"}],"total":"FY2025 총매출 251억8,600만 달러","track":"C"},"segments_en":{"parts":[{"name":"U.S. copper mines"},{"name":"South America operations"},{"name":"Indonesia operations"},{"name":"Molybdenum mines"},{"name":"U.S. Rod & Refining"},{"name":"Atlantic Copper"}],"total":"FY2025 total revenue of $25.186 billion"},"returns_yearly":{"2021":61.4,"2022":-7.3,"2023":13.7,"2024":-9.4,"2025":35.4,"2026":46.1},"return_asof":"2026-10-09","value_chain":{"leading":[{"slug":"mazda-motor","name":"마쓰다","name_en":"Mazda Motor","tier":3,"returns_yearly":{"2021":18.8,"2022":22.8,"2023":81.1,"2024":-39,"2025":17.3,"2026":1.8}},{"slug":"tesla","name":"Tesla","name_en":"Tesla","tier":3,"returns_yearly":{"2021":49.8,"2022":-65,"2023":101.7,"2024":62.5,"2025":11.4,"2026":-14.9}},{"slug":"panasonic-energy","name":"파나소닉 에너지","name_en":"Panasonic Energy","tier":2,"returns_yearly":{"2021":-5.7,"2022":-1.6,"2023":20.1,"2024":16.6,"2025":36.2,"2026":113.1}},{"slug":"toyota","name":"Toyota Motor Corporation","name_en":"Toyota Motor Corporation","tier":2,"returns_yearly":{"2021":58.1,"2022":-13.4,"2023":63,"2024":1.8,"2025":21.8,"2026":-14.3}},{"slug":"mitsubishi-materials","name":"미쓰비시머티리얼","name_en":"Mitsubishi Materials","tier":1,"returns_yearly":{"2021":-4.9,"2022":13.4,"2023":25.7,"2024":-6.5,"2025":88.5,"2026":11.1}},{"slug":"sumitomo-metal-mining","name":"스미토모금속광산","name_en":"Sumitomo Metal Mining","tier":1,"returns_yearly":{"2021":20.5,"2022":5.4,"2023":-19.4,"2024":-10.2,"2025":168.7,"2026":9.5}}],"benefiting":[{"slug":"caterpillar","name":"Caterpillar","name_en":"Caterpillar","tier":1,"returns_yearly":{"2021":16,"2022":18.6,"2023":25.9,"2024":24.7,"2025":60.3,"2026":40.6}},{"slug":"nucor","name":"뉴코","name_en":"Nucor Corporation","tier":2,"returns_yearly":{"2021":118.4,"2022":17.4,"2023":33.8,"2024":-32,"2025":42,"2026":54.7}},{"slug":"nuscale","name":"NuScale Power","name_en":"NuScale Power","tier":3,"returns_yearly":{"2023":-67.9,"2024":445,"2025":-21,"2026":-49.2}}],"analysis":"구리·금 광산 운영사 기업. 2026년 +44.2%로 강하게 올랐다. 수요단(평균 +9.5%)·본주(+44.2%)·공급단(평균 +42.9%)이 비슷한 보폭이다. 전파가 한 바퀴 돈 동조 국면이라, 다음 구간은 사슬 방향보다 개별 실적이 가른다. 연결 노드 중 가장 앞선 곳은 캐터필러(+42.9%), 가장 처진 곳은 스미토모금속광산(+9.5%)다. 격차가 사슬 논리로 설명되면 후자가 다음 전파 후보이고, 설명되지 않으면 그 연결 자체를 다시 봐야 한다.","analysis_en":"Freeport-McMoRan Inc. operates across Copper and gold miner. It is up +44.2% in 2026. Demand side (avg +9.5%), the stock (+44.2%) and supply side (avg +42.9%) are moving in step. Propagation has completed a lap, so the next leg depends on individual results more than chain direction. Among connected nodes the furthest ahead is Caterpillar (+42.9%) and the furthest behind is Sumitomo Metal Mining (+9.5%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It spends on mining equipment and smelting and refining services while also investing in Indonesian processing assets.","analysis_asof":"2026-09-04"},"edges":[{"direction":"revenue","counterparty":"미쓰비시머티리얼","counterparty_slug":"mitsubishi-materials","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-13","basis":"미쓰비시머티리얼 대상 매출","value":1700000000,"period":"FY2025","basis_en":"Sales to Mitsubishi Materials","qualifier":null},"note":"PT Freeport Indonesia의 PT Smelting 합작 파트너이자 FCX의 주요 고객이다. FCX는 구리·금 제품 판매를 통해 이 고객에게서 매출을 얻는다.","note_en":"Mitsubishi Materials is PT Freeport Indonesia's partner in PT Smelting and a major FCX customer. FCX earns revenue from sales of copper and gold products to this customer.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/831259/000083125926000012/fcx-20251231.htm","title":"프리포트맥모란 2025 회계연도 10-K","title_en":"Freeport-McMoRan 2025 Form 10-K","excerpt":"미쓰비시머티리얼 대상 2025년 매출은 17억 달러였다.","excerpt_en":"Sales to MMC totaled $1.7 billion in 2025."}]},{"direction":"investment","counterparty":"PT Smelting","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2024-08-07","basis":"PT Smelting 증설 대출 중 신주로 전환된 금액","value":254000000,"period":"through 2024-06-30","basis_en":"PT Smelting expansion loans converted into new shares","qualifier":null},"note":"PT Freeport Indonesia는 PT Smelting 증설 자금을 대출로 제공한 뒤 전액을 신주로 전환했다. 그 결과 PT Freeport Indonesia의 보유 지분이 확대됐으며, PT Smelting은 지분법 투자로 남았다.","note_en":"PT Freeport Indonesia financed PT Smelting's expansion with loans and then converted the full amount into new shares. The transaction increased PT Freeport Indonesia's ownership while PT Smelting remained an equity-method investment.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2024-08-07","url":"https://www.sec.gov/Archives/edgar/data/831259/000083125924000031/fcx-20240630.htm","title":"프리포트맥모란 2024년 2분기 10-Q","title_en":"Freeport-McMoRan Form 10-Q for the Quarter Ended June 30, 2024","excerpt":"PT Freeport Indonesia가 제공한 2억5,400만 달러의 차입금은 2024년 6월 30일 지분으로 전환됐다.","excerpt_en":"$254 million of PT-FI funding converted to equity effective June 30, 2024."},{"stance":"confirms","publisher":"미쓰비시머티리얼","publisher_en":"Mitsubishi Materials","kind":"ir","lang":"en","published_at":"2024-08-07","url":"https://ir.mmc.co.jp/en/ir/news/auto_20240806564138/pdfFile.pdf","title":"미쓰비시머티리얼 2024년 6월 말 1분기 연결실적","title_en":"Mitsubishi Materials Consolidated Financial Results for the Three Months Ended June 30, 2024","excerpt":"PT Smelting 증설은 PT Freeport Indonesia가 전액 금융을 제공하고 대출을 신주로 전환하는 조건이었다.","excerpt_en":"PTS will receive full financing from PTFI for the expansion work."}]},{"direction":"cost","counterparty":"PT Smelting","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-13","basis":"PT Smelting 위탁제련 관련 비용","value":200000000,"period":"FY2025","basis_en":"PT Smelting tolling-related charges","qualifier":null},"note":"PT Freeport Indonesia는 PT Smelting에 정광을 보내고 제련·정련 수수료를 지급한 뒤 제품 소유권을 유지한다. 이 위탁제련 구조는 FCX 공시와 PT Smelting 운영사 측 자료에서 함께 확인된다.","note_en":"PT Freeport Indonesia sends concentrate to PT Smelting, pays tolling fees and retains title to the resulting products. Both FCX's filing and material from PT Smelting's operator confirm this tolling structure.","sources":[{"stance":"mentions","publisher":"상하이메탈마켓","publisher_en":"Shanghai Metals Market (SMM)","kind":"analysis","lang":"ko","published_at":"2026-08-11","url":"https://news.metal.com/ko/newscontent/104053514-pt-%EC%8A%A4%EB%A9%9C%ED%8C%85-%EA%B7%B8%EB%A0%88%EC%8B%9D-%EB%8F%8C%EB%B0%9C-%EC%82%AC%EA%B3%A0smm-%EB%B6%84%EC%84%9D","title":"PT 스멜팅 그레식 돌발 사고 [SMM 분석]","title_en":"Unexpected Incident at PT Smelting Gresik [SMM Analysis]","excerpt":"SMM은 PT Smelting 그레식 제련소의 생산 차질을 다루며 프리포트맥모란 연차보고서의 생산 실적을 함께 인용했다.","excerpt_en":"SMM linked the Gresik smelter disruption to production figures reported in Freeport-McMoRan's annual report."},{"stance":"confirms","publisher":"프리포트맥모란·미국 증권거래위원회","publisher_en":"Freeport-McMoRan and SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-13","url":"https://s22.q4cdn.com/529358580/files/doc_financials/10-K/10_k2025.pdf","title":"프리포트맥모란 2025 회계연도 10-K","title_en":"Freeport-McMoRan 2025 Form 10-K","excerpt":"2025년 위탁제련 관련 비용은 2억 달러였다.","excerpt_en":"PTFI recorded tolling-related charges of $200 million in 2025."},{"stance":"confirms","publisher":"미쓰비시머티리얼","publisher_en":"Mitsubishi Materials","kind":"ir","lang":"en","published_at":"2024-08-07","url":"https://ir.mmc.co.jp/en/ir/news/auto_20240806564138/pdfFile.pdf","title":"미쓰비시머티리얼 2024년 6월 말 1분기 연결실적","title_en":"Mitsubishi Materials Consolidated Financial Results for the Three Months Ended June 30, 2024","excerpt":"회사는 PT Smelting의 사업을 인도네시아 구리 정광 위탁제련으로 설명했다.","excerpt_en":"Contract smelting of copper concentrate in Indonesia."}]},{"direction":"cost","counterparty":"Caterpillar","counterparty_slug":"caterpillar","confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2025-03-26","basis":"Caterpillar 광산 트럭 재생·기술 서비스 계약 금액","value":null,"period":"ongoing","basis_en":"Value of Caterpillar mining-truck rebuild and technology services","qualifier":"confirmed_no_disclosed_value"},"note":"프리포트맥모란은 세계 각지의 Cat 광산 트럭을 유지하기 위해 Caterpillar와 인증 재생 프로그램을 운영한다. 개별 장비·서비스 계약 금액은 공개되지 않았다.","note_en":"Freeport-McMoRan uses Caterpillar's certified rebuild program to maintain Cat mining-truck fleets across its operations. The value of the underlying equipment and service contracts is not disclosed.","sources":[{"stance":"confirms","publisher":"Caterpillar","publisher_en":"Caterpillar","kind":"ir","lang":"en","published_at":"2025-03-26","url":"https://www.cat.com/en_US/blog/mining/articles/truck-rebuild-program-freeport.html","title":"프리포트와 트럭 재생 프로그램 운영하기","title_en":"Implementing A Truck Rebuild Program With Freeport","excerpt":"프리포트는 Caterpillar 및 딜러와 함께 전 세계 Cat 트럭 대형 차량군을 지원하는 재생 프로그램을 운영한다.","excerpt_en":"Freeport adopted a rebuild program with Caterpillar to support its global Cat truck fleets."}]},{"direction":"revenue","counterparty":"스미토모금속광산","counterparty_slug":"sumitomo-metal-mining","confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2026-02-13","basis":"모렌치 합작 파트너 대상 매출 중 스미토모금속광산 개별분","value":null,"period":"FY2025","basis_en":"Individual Sumitomo Metal Mining portion of sales to Morenci joint-venture partners","qualifier":"confirmed_no_disclosed_value"},"note":"FCX 연결매출에는 모렌치 합작 파트너 대상 판매가 포함된다. 스미토모금속광산은 모렌치 지분 파트너지만 개별 매출액은 공개되지 않았다.","note_en":"FCX's consolidated revenue includes sales to Morenci joint-venture partners. Sumitomo Metal Mining is an equity partner in Morenci, but FCX does not disclose sales to it separately.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/831259/000083125926000012/fcx-20251231.htm","title":"프리포트맥모란 2025 회계연도 10-K","title_en":"Freeport-McMoRan 2025 Form 10-K","excerpt":"연결매출에는 모렌치 합작 파트너 대상 판매가 포함된다.","excerpt_en":"Consolidated revenues include sales to Morenci's joint venture partners."},{"stance":"mentions","publisher":"스미토모금속광산","publisher_en":"Sumitomo Metal Mining","kind":"ir","lang":"en","published_at":"2025-11-28","url":"https://www.smm.co.jp/en/ir/library/integrated_report/pdf/2025/2025_section4_EN.pdf","title":"스미토모금속광산 통합보고서 2025: 광물자원 사업","title_en":"Sumitomo Metal Mining Integrated Report 2025: Mineral Resources Business","excerpt":"보고서는 모렌치를 스미토모금속광산의 주요 해외 운영 광산 가운데 하나로 제시한다.","excerpt_en":"Morenci is listed among SMM's major overseas operating mines."}]}]}