Freeport-McMoRan stock: Freeport agrees to buy Aurora West stake

Freeport-McMoRan agreed on Thursday, November 12, to acquire an initial 51% interest in the Aurora West project in British Columbia for C$110 million in cash at closing. The transaction gives the copper producer a new exploration position while leaving completion subject to customary conditions, including approval from the TSX Venture Exchange.

Terms strengthen exploration reach

According to the TDG Gold announcement, Freeport will initially own 51% of each joint venture company holding the relevant Aurora West claims. TDG will retain 49% of Aurora West JVCo after closing.

Freeport also receives an earn-in option. It can increase its interest in Aurora West JVCo to 75% by funding C$80 million of additional exploration expenditure. A separate option would allow Freeport to acquire 100% of ClaimsCo for a further C$40 million payment.

Freeport committed to fund C$30 million of exploration expenditure within three years after closing, including at least C$15 million during the first two years. The reorganization is expected in December 2026, with closing scheduled five business days after the required conditions are satisfied or waived.

Broader copper investment context

The agreement follows Freeport's November 4 approval of a 4.5-billion-dollar Bagdad expansion in Arizona. In its company release, Freeport said the project is intended to add long-term copper and molybdenum production, with initial output targeted for mid-2030.

Freeport-McMoRan stock traded at 53.86 euros on Lang & Schwarz at 16:02 CET on Friday, November 13, 2026.

US equity markets remain the wider setting for the shares; see Current market reports.

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