The S saturation and oxidation states of arc magmas are important factors in the formation of porphyry Cu–Au deposits. The Milin juvenile lower crustal cumulates (86.7–84.3 Ma) in the Gangdese provide insights into how sulfide saturation and oxidation states control porphyry mineralization. Zircons from the cumulates have low Ce⁴⁺/Ce³⁺ ratios (21–90) and reduced oxygen fugacities (ΔFMQ–1.8±0.5), which cannot be explained by fractional crystallization or crustal contamination, suggesting inheritance from a mantle source. Partial melting of the mantle under reduced conditions produced a sulfide-saturated primary arc magma with low chalcophile element contents owing to the residual sulfide in the mantle. The Milin lower crustal cumulates contain sulfides, indicating that the magma reached sulfide saturation in the early stages of magmatic differentiation. Based on our model, the primary arc magma before sulfide saturation contained 66.7 ppm Cu and 1.0 ppb Au. The residual magma after sulfide saturation in the lower crust contained 33–66 ppm Cu, 0.13–0.93 ppb Au; i.e., lower contents than those in arc basalts worldwide. Both these factors hindered the formation of Late Cretaceous large porphyry Cu–Au deposits in the Gangdese belt. Remelting of the Milin sulfide-rich cumulates can generate a Cu-rich andesitic magma only under high temperature and high-fO₂ conditions, and a melt with low Cu content under low temperature even high-fO₂ conditions. Thus, the temperature plays a crucial role in the remelting of the lower crust whether provide enough metals to match the Gangdese Miocene post-collisional porphyry Cu deposit.