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3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc.

Freeport-Mcmoran Inc. · Oct 24, 2007 · 37 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 1
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. 3rd Quarter 2007 Earnings Conference Call James R. Moffett Richard C. Adkerson Chairman of the Board Chief Executive Officer Timothy R. Snider…
  2. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 2
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. 3Q07 Highlights Sales Data 3Q06 3Q07 Copper Consolidated Volumes (mm lbs) 324 949 (1) Average Realization (per lb) 3.43 3.53(2) Gold Consolidated…
  3. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 3
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Preliminary Purchase Accounting Allocation (1) ( in billions) Step-up in Assets Breakdown Historical Book Value 8.2 PP&E Inventories & Step-up in…
  4. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 4
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. 3Q07 Operating Highlights Operating Data 3Q06 Pro Forma 3Q07 Copper Consolidated Volumes (mm lbs) (1) 922 949 Average Realization (per lb) (2) 3.32…
  5. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 5
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. 3Q07 Unit Production Costs (per pound of copper) North South America America Indonesia Consolidated Cash Unit Costs Site Production & Delivery…
  6. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 6
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Markets Overview 2,000 400 1,750 350 Cents Per Pound 1,500 300 000s Metric Tons 1,250 250 1,000 LME Copper Price 200 750 150 500…
  7. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 7
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. 2007 Outlook Pro Forma Sales Outlook (1): Copper: 3.9 Billion lbs. Gold: 2.3 Million ozs. Molybdenum: 68 Million lbs. Modeled Operating Cash…
  8. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 8
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Strong Financial Profile Capitalization, Net of Cash ( in billions) 36.2 55.7 At Closing of PD Current (2) Acquisition (1) Net Debt 6.3 Net…
  9. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 9
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Development Project Update North America Morenci Mill Restart & Concentrate Leach Plant Mill operated at 38K t/d* in 3Q, ramping up to 54K t/d…
  10. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 10
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Development Project Update North America Climax Mine Restart Completing Feasibility Study for the restart of Climax moly mine near Leadville, Co…
  11. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 11
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Development Project Update South America Cerro Verde Sulfide Mill Expansion 900MM project completed in 4Q06 Operated at capacity during the third…
  12. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 12
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Development Project Update Indonesia Common Infrastructure Underground Mine Development Drilling DOZ Expansions - Completed 50K Expansion in…
  13. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 13
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Development Project Update Democratic Republic of Congo Tenke Fungurume Mine Development Plant Site & Mine Shops Engineering 55% complete &…
  14. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 14
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Copper Reserves & Mineralized Material Reserves* Mineralized Material** (billion lbs of recoverable copper) (billion lbs of contained copper)…
  15. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 15
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Significant Exploration Potential Papua, Indonesia Rights to 2.2 million acres Pacific Ocean Highly prospective exploration areas provide…
  16. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 16
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Exploration Drives the Mine Plan Aggregate 2007e Exploration: 135 million North America South America Lone Star & Morenci 12% 35% Africa Tenke…
  17. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 17
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Sales Profile 2007e - 2009e Gold Sales (million ozs) Copper Sales (billion lbs) 3 2.3 2.1 5 1.9 2 4.5 1.4 4.4 1 4 3.9 3.6 0 2006 2007E 2008E…
  18. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 18
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. 2007 Quarterly Payable Metal Sales Gold Sales (thousand ozs) Copper Sales (million lbs) 1,200 978 913 1,200 Grasberg Grasberg currently currently…
  19. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 19
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Pro Forma 2007e Sales and Unit Production Costs by Region 2007e Pro Forma Sales by Region North America South America Indonesia 1,405 2.1 1,340…
  20. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 20
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. EBITDA and Cash Flow at Various Copper Prices Average Annual EBITDA 2008e-2009e (700 Gold & 20 Molybdenum) 12 (US billions) 10 8 6 4 2 0…
  21. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 21
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Sensitivity to Commodity Prices Annual Annual Financial Financial Impact Impact Net Net Operating Operating Change Change EBITDA EBITDA…
  22. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 22
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Capital Expenditures (US billions) 2.5 Major Projects All Other 1.9 2.0 2.0 1.5 1.0 1.1 1.2 1.0 0.8 0.5 0.9 0.9 0.4 0.0 2007e * 2008e…
  23. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 23
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Debt Maturities at 9/30/07 8,000 (US millions) 7,000 6,493 6,000 5,000 New 4,000 Senior Notes and 3,000 PD Senior Notes 2,000 1,362…
  24. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 24
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Average Annual Excess Cash Flow (1) (1) 2008e 2009e ( in billions, except copper, gold and molybdenum prices) 5 Copper Sensitivities with 700…
  25. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 25
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Financial Policy FCX is Committed to Maintaining a Strong Financial Position Continuation of Positive Copper Markets is Expected to Provide…
  26. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 26
    FREEPORT-M FREEPORT-M FREEPORT-MC FREEPORT-MCCM M MO CM OR OR O R RAN AN COPPER COPPER & COPPER AN COPPER AN & GOLD & & GOLD INC. GOLD GOLD INC. INC. INC. Reference Slides 27
  27. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 27
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Grasberg District Ore Bodies 1H 2008 Grasberg Complete tunnel to Grasberg BC Grasberg UG Begin mine development & other facilities Pit…
  28. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 28
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Grasberg Open Pit Mid-2007 9N 8N 8E 6N 7S 8S N 29
  29. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 29
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. PT-FI Mine Plan PT-FIs Share of Metal Sales, 2007e-2011e Copper, billion lbs Gold, million ozs 2007e 2011e PT-FI Share 2007e 2011e PT-FI Share Total:…
  30. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 30
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Mining Sequence in 2007 Copper Equivalent Cross Section A B Following a mine-out of the high-grade section of 6N in 1H07, 7S is the Primary Ore…
  31. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 31
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Mining Sequence in 2007 Copper Equivalent Cross Section A B Following a mine-out of the high-grade section of 6N in 1H07, 7S is the Primary Ore…
  32. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 32
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Mining Sequence in 2007 Copper Equivalent Cross Section A B Following a mine-out of 6N in 1H07, 7S is the Primary Ore Pushback in 2007 8E 7S End…
  33. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 33
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Mining Sequence in 2007 Copper Equivalent Cross Section A B Following a mine-out of 6N in 1H07, 7S is the Primary Ore Pushback in 2007 8E 7S End…
  34. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 34
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Mining Sequence in 2008 Copper Equivalent Cross Section A B 7S is the Primary Ore Pushback in 2008 8E 7S End 2007 Grasberg Plan View B…
  35. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 35
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Mining Sequence in 2009 Copper Equivalent Cross Section A B 7S and 8E/8S are the Primary Ore Pushbacks in 2009 8E End Grasberg Plan View 2008…
  36. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 36
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Mining Sequence in 2010 Copper Equivalent Cross Section A B 8E/8S is the Primary Ore Pushback in 2010 9N End 2009 8E Grasberg Plan View 8S…
  37. 3rd Quarter 2007 Earnings Conference Call – Freeport-Mcmoran Inc. – slide 37
    FREEPORT-M FREEPORT-MCCM MOOR AN COPPER RAN COPPER & & GOLD GOLD INC. INC. Mining Sequence in 2011 Copper Equivalent Cross Section A B 8E/8S and 9N are the Primary Ore Pushbacks in 2011 9N* Grasberg Plan View End 2010…

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