# Freeport Board Approves $4.5 Billion Bagdad Mine Expansion

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/49037
Published: 2026-11-05T04:47:44.000Z
Updated: 2026-11-05T04:47:44.000Z
Section: Business

> The Arizona project sets a long-term target of more than 400 million pounds of copper a year.

Freeport-McMoRan Inc. said Wednesday, Nov. 4, that its board had approved a $4.5 billion expansion and modernization of its Bagdad operation in Arizona, targeting long-term copper output above 400 million pounds a year.

Bagdad is a copper and molybdenum operation. Freeport shares rose 3.3% in premarket trading that day.