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AsiaUSA Forum 2011 – Freeport-Mcmoran Inc.

Freeport-Mcmoran Inc. · Nov 8, 2011 · 26 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. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 1
    Connecting the World AsiaUSA Forum 2011 Kathleen L. L Quirk Executive Vice President & Chief Financial Officer www.fcx.com November 8, 2011
  2. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 2
    Connecting Connecting the World World 2010 Annual Report Highlights Global Leader in Production of Copper, Gold and Molybdenum Well Situated to Meet Growing Demand for Metals Geographically Diverse Long-Lived Reserves…
  3. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 3
    FCXs C sG Global oba Footprint ootp t Major Mine Operations & Development Projects All major assets majority-controlled and operated North America1 Copper Reserves Copper/Gold/Silver Cu 42.2 billion lbs Mo 2.75 billion lbs…
  4. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 4
    Worlds Leading g Copper pp Producers Top 10 Copper Producers (2011e) (000 t) 2,000 1,800 1,600 , 1,400 1,200 1,000 800 600 400 200 0 Codelco FCX BHP Billiton Xstrata Anglo Southern Rio Tinto KGHM…
  5. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 5
    World Class Copper Discoveries Are Extremely Rare Recoverable Copper Reserves 2011e Copper Production Million metric tons Thousand metric tons 0 5 10 15 20 25 30 0 200 400 600 800 1,000 1,200 Grasberg Complex - 1988 Escondida -…
  6. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 6
    Markets 2,500 500 2,000 400 LME Copper Price 00s Metric Tons s Cents Per Pound 1,500 300 1,000 200 00 500 100 LME & COMEX Exchange Stocks* 0 0 Jan- Jul- Jan- Jul- Jan- Jul- Jan- Jul- Jan- Jul- Jan- Jul- Jan-…
  7. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 7
    Value a ue Creation C ea o Focus ocus INVESTMENT CASH MINERAL RESERVE IN ATTRACTIVE PRODUCTION FLOWS/ RESOURCES ADDITIONS DEVELOPMENT GROWTH RETURNS PROJECTS FCX Copper Resources at 12/31/2010 Recoverable Reserves (a) (…
  8. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 8
    Reserve Additions Post Merger g Since 12/31/06 +43 billion lbs Cu Cu* Candelaria/Ojos Bagdad Morenci Cerro Verde Sierrita Tenke Balance, net * Proven and probable reserves as of 12/31/10 totaled 120.5 bn lbs. and were…
  9. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 9
    North American Copper pp Projects j Morenci Mill Restart (a) Miami Restart (b) Morenci Mine Rate Increase (a) ( ) Chino Restart (c) ( ) (a) Morenci Mill Restart & Mine Rate Increase completed in 2011; incremental copper of…
  10. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 10
    Climax Molybdenum y Restart Advanced Stage Project Start-up in 2012 with ramp up to 20mm lbs/year during 2013 Depending on market conditions, Climax may increase to 30mm lbs/yr SAG & Ball Mills FCX will operate its Mo mines in a…
  11. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 11
    El Abra Sulfolix Commenced production in Sulfolix Stacking 1Q11 Portable Stacker Ore crushing, conveying, stacking, leaching & PLS transfer systems complete Currently l extending di leach l h pad d Project extends life 10+…
  12. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 12
    Long-Term Underground Mine Development in Indonesia Grasberg Block Cave Significant undeveloped UG reserves Aggregate reserves of 37 billion lbs Cu & 33 million ozs Au DOZ expanded to 80K t/d Initiated mining at Big Gossan full…
  13. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 13
    Advanced Stage g Copper pp Projects j Incremental Preliminary Copper Capital* Achieve Mill Expansions (mm lbs/year) ( billions) Full Rates Status EIS filing Cerro Verde (360K) 600 4 0 4.0 2016 4Q11 Completing Morenci (115K) 225…
  14. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 14
    Potential Additional Projects j North America South America Sulfides/Mill Projects El Abra Mill Large Scale Morenci Sierrita Af i Africa Bagdad Ajo Future Expansion Twin Buttes of Tenke Oxides Safford/Lone Star Tenke Sulfides…
  15. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 15
    Exploration Targets in Major j Mineral Districts Safford/Lone Star/Morenci District Cerro Verde North South Exploration America America in 2011e 28% 37% Tenke Fungurume/Africa 250 million 4% Africa 14% 17%…
  16. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 16
    3Q11 Q Highlights g g Sales Data 3Q11 3Q10 9-mo 11 9-mo 10 Copper Consolidated Volumes (mm lbs) 947 1,081 1 081 2,875 2 875 2,955 2 955 Average Realization (per lb) 3.60 3.50 3.94 3.33 Site Production & Delivery Unit Costs (per…
  17. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 17
    2011 0 Outlook Out oo Sales Outlook: Copper: 3.8 Billion lbs. Gold: 1.6 Million ozs. Molybdenum: 78 Million lbs. Unit Net Cash Cost(1): 0.95/lb Operating Cash Flows(2): 7 Billion (3.25/lb Copper for 4Q11) Each 10/lb Change…
  18. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 18
    Near-Term Near Term Sales Profile Excludes current projects under evaluation Copper Sa Coppe Sales es ((billion o lbs) s) Gold Sales (million ozs) 1.9 19 2 1.7 5 1.6 1.1 4.2 1 3.9 3.9 4 3.8 0 2010 2011e 2012e 2013e 3…
  19. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 19
    Update on PT-FI Operations and Labor Strike at Grasberg Continuing to Seek Mutually Acceptable Resolution to Ongoing Labor Strike which Commenced on September 15, 2011 Committed to Work in Good Faith with Union Leaders Strike…
  20. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 20
    2011 Operating p g Estimates 2011e Unit Production Costs North South (per pound of copper) America America Indonesia Africa Consolidated Cash Unit Costs (1) Site Production & Delivery (2) 1.81 1.36 2.06 1.56 1.70 By-product Credits…
  21. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 21
    EBITDA and Cash Flow at Various Copper Prices Average EBITDA* (1,200 Gold & 12 Molybdenum) 12 (US billions) 9 6 3 0 Cu 3.00/lb Cu 3.50/lb Cu 4.00/lb Average Operating Cash Flow (excluding Working Capital changes)* (1,200…
  22. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 22
    Sensitivities Operating Ch Change EBITDA C h Fl Cash Flow (US millions) Copper: -/+ 0.10/lb 380 265 Molybdenum: -/+ 1.00/lb 75 60 Gold: -/+ 50/ounce 70 40 Diesel(1): -/+ 10% 80 60 Purchased Power(2): -/+ 10% 45 35…
  23. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 23
    Capital p Expenditures p (1) Major Projects All Other Advanced Stage Copper Projects (5) (US billions) 5 4 3.7 1.0 3 2.6 2 12 1.2 14 1.4 1.4 1 0.7 (3) (2) 14 1.4 (4) 13 1.3 ((4)) 0.7 0 2010 2011e 2012e…
  24. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 24
    Balance Sheet Repaid 3.8 bn in Debt Since (US billions) YE 2008 (50% Reduction) 20 Significant Si ifi t Li Liquidity idit 17.6 (1) Strong Credit Metrics 15 No Near-term Maturities Investment Grade d Rated dbby S&P, Moodys,…
  25. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 25
    Financial Policy o y Maintain Strong Balance Sheet & Liquidity Position Invest in Attractive Growth Projects Opportunistic Debt Repayment Current Common Stock Dividend Rate: 1.00/Share per Annum Paid 950 Million in…
  26. AsiaUSA Forum 2011 – Freeport-Mcmoran Inc. – slide 26
    FCX Investment Summary Worlds Premier Publicly Traded Copper Company World Worlds s Largest Molybdenum Producer & Significant Gold Producer Long Long-lived lived Reserves, Geographically Diverse Operations Flexible e b e…

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