What is the global mining companies' market capitalization ranking?

In 2020, Freeport-McMoRan Inc. generated $5.25 billion in revenue in the United States, accounting for 37.0% of its total sales revenue. The 2020 revenue structure of Freeport-McMoRan Inc. is shown in Figure 1. By country and region, in 2020, Freeport-McMoRan Inc. (FCX) generated $2.03 billion in revenue in Switzerland, representing 14.6% of its total operating revenue; $1.76 billion in Indonesia (12.4%); $1.21 billion in Japan and $0.79 billion in Spain (8.5% and 5.5%, respectively); and $0.69 billion in China, accounting for only 4.9% of total operating revenue. In 2020, Freeport-McMoRan Inc. (FCX) achieved $14.51 billion in direct product revenue. Of this: copper products contributed $11.37 billion (78.4%); gold contributed $1.70 billion (11.7%); molybdenum contributed $0.85 billion (5.8%); and other products—including cobalt and silver—contributed $0.59 billion (4.1%). The 2020 breakdown of FCX’s direct product revenue by category is illustrated in Figure 2. In 2020, Freeport-McMoRan Inc. (FCX) sold a total of 1.452 million metric tons (3.202 billion pounds) of copper metal: 645,000 metric tons (1.422 billion pounds) from North American mines, representing 44.4% of total sales volume; 443,000 metric tons (976 million pounds) from South American mines, representing 30.5%; and 365,000 metric tons (804 million pounds) from Indonesian mines, representing 25.1%. In terms of sales composition, FCX’s copper-containing products generated $11.37 billion in sales revenue in 2020. Specifically: copper concentrate sales amounted to $4.29 billion (37.8%); cathode copper sales totaled $4.20 billion (37.0%); sales of rod and other refined copper products reached $2.05 billion (18.0%); and sales of purchased cathode copper (primarily used for rod and other refined copper product manufacturing) amounted to $0.82 billion (7.2%). FCX’s 2020 copper-containing product sales structure is depicted in Figure 3. Freeport-McMoRan Inc. (FCX) primarily serves the U.S. market, supplying one-third of the nation’s total copper demand. III. Production Overview in 2020 In 2020, Freeport-McMoRan Inc. (FCX) produced a total of 1.454 million metric tons (3.21 billion pounds) of mine copper, a 1.3% decline year-on-year. Specifically: North American mine copper production was 643,000 metric tons, down 2.7% year-on-year and representing 44.3% of total mine copper output; South American production was 444,000 metric tons, down 17.2% year-on-year and accounting for 30.5% of total output; and Indonesian production was 367,000 metric tons, up 33.3% year-on-year and representing 25.2% of total output. In 2020, Freeport-McMoRan Inc. (FCX) produced 24.3 metric tons (857,000 troy ounces) of gold, a 2.8% decline year-on-year.

How is sales revenue forecasted in financial statements?

Generally, forecasting a company’s future sales revenue is the responsibility of the sales department—not the finance department—and is based on external market conditions and the company’s own internal expectations. At a minimum, an expected sales growth rate must be determined. Once the projected sales revenue or expected sales growth rate has been established, other financial statement items can then be forecasted by the finance department. For specific methodologies, refer to relevant chapters—such as “Long-Term Planning and Financial Forecasting”—in standard corporate finance textbooks.

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