1st Quarter 2014 Earnings Conference Call April 24, 2014 www.fcx.com
Strength in Resources 2013 Annual Report Highlights Long-Lived, Geographically Diverse Natural Resources Base - Premier Portfolio of Global Mining Assets STRENGTH IN RESOURCES 2013 Annual Report - High-Quality, U.S.-Based Oil & Gas…
1Q14 Highlights Focused on Execution Solid Performance from Mining Operations in the Americas and Africa - Restricted Sales from Indonesia by Government Export Regulations Meaningful Contribution from O&G Business Advanced…
Financial Highlights (1) Sales Data 1Q14 1Q13 Copper Consolidated Volumes (mm lbs) 871 954 Average Realization (per lb) 3.14 3.51 Site Production & Delivery Unit Costs (per lb) 1.89 1.94 Unit Net Cash Costs (per lb) 1.54 1.57 Gold…
Current PT-FI Operating Status No Export Shipments Since Mid-January Aligning Current Production Levels with PT Smelting Operations Mill Operating at Half Capacity 1Q14 Impact: Deferred Sales of 125mm lbs Copper and 140,000 ozs Gold…
Long-term Positive Partnership with Indonesia Successful Operations for Over 40 Years Contributed Over 60 Billion to National GDP in GOI Direct Benefits Total Since 1992 Last 5 Years (2009 2013) (2) Currently Over 90% of Local…
Copper Market Commentary Fundamental Demand in China Remains Healthy - Supported by Consumer and Infrastructure Investment - Scarcity of Scrap and Cathode Exports Creating Tightness in Domestic Market U.S. Demand Improving -…
Quarterly Mining Operating Summary 1Q14 Unit Production Costs Cash Unit Costs North South (per pound of copper) America America Indonesia Africa Consolidated (1) (1) Site Production & Delivery 1.88 1.50 3.33 1.48 1.89 By-Product…
Brownfield Development Projects Cerro Verde Mill Expansion Morenci Mill Expansion 4.6 billion 1.6 billion Commenced construction in 1Q13 Construction in advanced stage Achievement of substantial earthworks; Commissioning & start-up…
Portfolio of World Scale Mines Positive Exploration Results Big Mines Get Bigger Mines with Potential Capacity for 1 billion lbs of copper per annum* Morenci Grasberg Tenke Cerro Verde Fungurume El Abra * Grasberg capable…
Strong Brent & LLS Crude Oil Pricing Over 90% of FCXs 1Q14 O&G Revenues are from Oil/NGLs* 150 Brent and LLS Pricing per Bbl 125 100 75 50 June 13 3Q13 4Q13 2013** 1Q14 Brent Average (/bbl) 103 110 109 109 108 25 LLS…
Oil & Gas Operating Assets 1Q 2014 Cash Operating Margin: 0.9 Billion (59/BOE) California Margin Contribution GOM Deepwater Long Established Oil Significant Current Production Production History with Upside Strong Margins and Cash…
Quarterly Oil & Gas Operating Summary 1Q 2014 Oil & Gas Margins by Region Haynesville/ Operating Margin Eagle Madden/ California Ford Other GOM Consolidated Realized Revenue per BOE 91.76 81.78 30.35 87.35 77.22 Cash Production…
2014 Central GOM Lease Sale 330 Million in Total High Bids - 20 Blocks - 106,000 Gross Acres Louisiana Ram Powell Marlin Blocks Are Strategic and Viosca Knoll Complementary to FM O&Gs Horn Mountain Existing Acreage Mississippi…
Deepwater Gulf of Mexico Before Lease Sale, Deepwater Leasehold 450,000 Net Acres with Total Net Unrisked Resource Potential of 3.8 Billion BOE* Holstein Marlin Horn Mountain Capacity 12% Utilization Capacity 40% Utilization…
Lucius Deepwater GOM Development Project World Class Reservoir Quality and Deliverability Development on Track; Production Anticipated in 2H 2014 Topside Facilities Lifted into Place in 1Q14 Subsea Infrastructure Currently Being…
Inboard Lower Tertiary/ Cretaceous Activities Industry Leader in Emerging New Trend Favorable Reservoir Characteristics Cretaceous Tuscaloosa Trend Highlander Judge Digby Field Cumulative Production 3.1 TCF, 121 mmbc…
2014e Outlook Sales Outlook Unit Cost Copper(1): 4.3 Billion lbs. 1.41/lb(3) of Copper Gold(1): 1.6 Million ozs. 19/BOE Molybdenum: 97 Million lbs. Oil Equivalents(2): 64.2 MMBOE (70% Oil) Operating Cash Flows (4) Capital…
2014e Operating Estimates 2014e Unit Production Costs (per pound of copper) North South America America Indonesia(2) Africa Consolidated(2) Cash Unit Costs (1) Site Production & Delivery (3) 1.84 1.61 2.46 1.54 1.88 By-product…
EBITDA and Cash Flow at Various Copper Prices Average EBITDA (1,200 Gold, 10 Molybdenum & 105 Oil) (US billions) 20 15 10 5 2015e/2016e Average 0 Cu 3.00/lb Cu 3.50/lb Cu 4.00/lb Average Operating Cash Flow (excluding…
Capital Expenditures (1) (US billions) 8 7.1 7.3 6.6 6 Oil & Gas 3.5 3.0 4.0 4 Major Projects (2) TOTAL 2.6 3.1 MINING 2 3.8 1.4 4.1 2.6 Other Mining 1.2 1.2 1.0 0 2014e 2015e 2016e (1) Capital expenditure…
Committed to Balance Sheet Management Strong Track Record Debt Targeted at 12 Billion by 3/31/2014 Balances YE 2016 ( in bns) Anticipate Continuing Current Common Stock Dividend: 1.25/Share per Annum 20.2 18.8 Large Resource…
Summary A Strong & Focused Organization Maximize Total Shareholder Returns Strong Management of the Base Operational Excellence Achieve Production Targets Effective Cost and Capital Management Manage HS&E and Other Inherent…
Reference Slides
2014e Oil & Gas Operating Estimates Madden & Operating Cost: 2/Mcfe California Haynesville Pricing: NYMEX Operating Cost: 34/bbl Pricing: Brent Based Gulf of Mexico Operating Cost: 14/bbl Eagle Ford Pricing: LLS Operating…
PT-FI Mine Plan PT-FIs Share of Metal Sales, 2014e-2021e* 2014e 2018e PT-FI Share Total: 5.6 billion lbs copper Copper, billion lbs Annual Average: 1.12 billion lbs Gold, million ozs 2014e 2018e PT-FI Share Total: 8.1 million ozs…
PT Freeport Indonesia Grasberg Minerals District Life-of-Mine Production Sequencing* Plan View 206mm mt Grasberg Open Pit 0.95% Cu & 1.08 g/t Au 152mm mt Grasberg & DOZ 0.56% Cu & 0.73 g/t Au Kucing Liar Grasberg Big Gossan…
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