Global Metals, Mining & Materials Conference Copper Dynamics: Turning Brownfields Into Greenfields Greenfields James R. Moffett Chairman of the Board PROVEN PERFORMANCE SHINING FUTURE November 17, 2010 www.fcx.com
Proven Performance,, Shining g Future Investment Highlights Premier Copper, Gold & Molybdenum Producer Long-Lived Reserves with Growth Options Flexible Operating Structure Geographically Diverse Significant Exploration…
World Class Copper Discoveries Are Extremely Rare Recoverable Copper Reserves 2010e Copper Production Million metric tons Thousand metric tons 0 5 10 15 20 25 0 200 400 600 800 1,000 1,200 Grasberg Complex - 1988 Escondida -…
Grasberg g Case Study y Indonesia Reserve Growth = Expanded Production 60 8 70 10 50 Copper 7 60 Gold 9 billion lbs million ozs 50 8 40 6 40 7 30 5 Grasberg 30 Grasberg Reserves 6 Reserves 20 Discovered 4 20…
Grasberg g Development p & Expansion p We quickly developed a pit plan. We also began studying the possibility for further expansions, so that we would be prepared if our geologists found more reserves as we fully expected they…
Exploration p Results Driving g Future Growth Significantly Increased Exploration Activities on Phelps Dodge Properties Following Merger in 2007 Invested 550 MM on Exploration Since Merger, Principally Focused on Existing Mineral…
Copper Reserves & Mineralized Material as of 12/31/09 Copper Reserves Mineralized Material g by Geographical Region g by Geographical Region (a) (b) 104 Bn lbs 122 Bn Incremental lbs North America 26% North America South…
Significant g Reserve Additions Potential 2010 Recent Reserve Additions Reserve Additions 23 billion lbs copper 20 billion lbs copper (2) (1) Since Merger through 12/31/09 Candelaria/Ojos Morenci Cerro Bagdad Verde…
Defining g the Sulfide Potential Leached/ Oxide Oxide Capping Chalcocite Ch l Chalcopyrite it Sulfide Porphyritic Intrusions 10
Expanding Footprints Cerro Verde Example Cerro Verde Bridge Santa Rosa Pit Cerro Verde Pit Plan View Bridge Cerro Santa Rosa Verde Cerro Verde Pit Santa Rosa Pit Bridge Cu Mineralization 11
Cerro Verde Brownfield Opportunities pp Primary Crusher 2009 Mineralized Material Cone 2009 Reserve Pit Cerro Verde Pit 2006 Reserve Pit Bridge Santa N Rosa Pit Leach Pad 1 km 12
Cerro Verde X-Section Significant Intercepts 1 km E W Santa S t Cerro Rosa Pit Verde Pit 1080 meters 0.57% Cu & 0.046% Mo 2006 Reserve Pit Plan View 2009 009 Reserve ese e Pitt 435 meters Cu % Cerro 0.69% Cu&…
Morenci Brownfield Opportunities pp N Garfield Stockpile 2009 Mineralized Material Cone Coronado 2009 Reserve Pit Western Copper 2006 Reserve Pit Morenci 1 km Crusher 14
Morenci X-Section Significant Intercepts SW NE Morenci Western Copper Garfield 2006/2009 Plan View N Reserve Pit Garfield 2009 Cu % C Mineralized =0 844 meters 497 meters =0.1 Coronado 0.42% Cu & 0.52% Cu & Material…
El Abra X-Section Significant Intercepts W E 2006/2009 Reserve Pit 2009 Mineralized 625 meters Material Cone 0.64% Cu Cu % =0 675 meters Plan View =0.1 0.65% Cu =0.2 855 meters =0.3 0.62% Cu 04 =0.4 990 meters N =0.6…
Papua p Opportunities pp Drill programs adjacent to existing ore bodies as well ll as in i highly hi hl prospective i exploration l i areas outside current operations Opportunities to add to reserves in Indonesia Tw Kke Tk…
Tenke Fungurume Sulfides Exploration Potential Greater than Oxides 600 square mile concession Resource p potential is multiples p of existing g reserves Future exploration is required to define the resource Geology of Central…
Climax Molybdenum y Bartlett Mountain 2006 Reserve Pit 2009 MM Cone New Mill 2009 Reserve Pit N Ceresco Ridge g 0 1 km 19
Exploration p Drives the Mine Plan FCX Brownfield Exploration Results = Greenfield Expansion Opportunities RESERVE EXPANSION VOLUME CASH ADDITIONS OPPORTUNITIES GROWTH FLOWS New Copper Sources SA Potential Projects 0 85 0.85…
MMR Ultra-Deep Focus Areas on the Shelf of Gulf of Mexico Generated 15 Prospects on Large Structures on Shelf with Ties to the Deepwater. U i k d Potential Unrisked P t ti l for f Ultra-Deep Ult D F Focus Area: A 30+ Tcfe T f…
Conceptual p Model - Ultra-Deep p Play y MMR Broadly Recognized as Industry Leader in This New Exploration Frontier Data received to date from Davy Jones/Blackbeard West & East confirm MMRs original geologic modeling, which…
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