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2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc.

Freeport-Mcmoran Inc. · Sep 23, 2009 · 25 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. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 1
    2009 Global Steel and Mining Conference Kathleen L. Quirk Executive Executive Vice Vice President President & & CFO CFO London September 23, 2009 www.fcx.com
  2. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 2
    Core Assets Long-Lived Reserves with Growth Potential Geographically Diverse Operations Financially Strong Flexible Operating Structure Experienced Team Focused Strategy 3
  3. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 3
    Worlds Leading Copper Producers Top 10 Copper Producers (2009E) (000 t) 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 Codelco FCX BHP Billiton Xstrata Rio Tinto Anglo Southern KGHM Norilsk First…
  4. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 4
    World Class Copper Discoveries Are Extremely Rare Recoverable Copper Reserves 2009E Copper Production Million metric tons 0 5 10 15 20 25 Thousands metric tons 0 200 400 600 800 1,0 0 0 Grasberg Complex - 1988 Escondida - 1979…
  5. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 5
    Geographically Diverse Major Mine Operations & Development Projects All major assets majority-controlled and operated North North America America11 Copper Reserves Copper/Gold/Silver Cu 28.3 billion lbs Mo 2.1 billion lbs…
  6. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 6
    Consolidated Proven & Probable Reserve Growth Copper Molybdenum Gold billion lbs billion lbs million ozs Reserves 12/31/07 93.2 2.04 41.0 Additions/revisions* 12.8 0.51 0.3 Production (4.0) (0.07) (1.3) Net change 8.8 0.44 (1.0)…
  7. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 7
    A World of Opportunities Exploration Targets in Major Mineral Districts Safford/Lone Star/Morenci Cerro Verde Tenke Fungurume/Africa Grasberg/Indonesia District SW US Indonesia Africa South America 8
  8. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 8
    Markets 2,000 400 1,750 350 1,500 300 000s Metric Tons Cents Per Pound LME Copper Price 250 1,250 1,000 200 750 150 500 100 250 50 LME & COMEX Exchange Stocks* 0 0 Jan-99 Jul-99 Jan-00 Jul-00 Jan-01 Jul-01 Jan-02…
  9. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 9
    Twelve Months in Review Base Metal Performance Mid-September Through Year-end 2008 4Q08 0% Financial Market Turmoil Sharp & Severe Economic Downturn -25% Concerns About China -37% -39% All Asset Classes Affected -50% -42%…
  10. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 10
    Responding to Changing Conditions Revised Operating Plans Aggressive Reduction in Costs & Capital Spending Adjustments to Financial Policy Protect Liquidity Preserve Assets & Future Growth Options Strongly Positioned…
  11. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 11
    Strong Operating & Cost Performance in 1H09 y Strong Operating Performance Consolidated Site Production & Delivery Access to high-grade section of the (excludes Africa) Grasberg Open Pit per pound of copper Solid Results in the…
  12. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 12
    1H09 Highlights Sales Data 1H09 1H08 Copper Consolidated Volumes (mm lbs) 2,122 1,853 Average Realization (per lb) 2.03 3.77 Site Production & Delivery Unit Costs (per lb) 1.05 1.53 Unit Net Cash Costs (per lb) 0.54 1.16 Gold…
  13. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 13
    2009e Quarterly Payable Metal Sales Gold Sales (thousand ozs) Copper Sales (million lbs) 837 1,250 800 545 550 1,102 600 475 1,020 400 1,000 910 915 200 0 1Q09 2Q09 3Q09e 4Q09e 750 ____________________ Note: Consolidated…
  14. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 14
    Sales Profile 2007 - 2010e Gold Sales (million ozs) Copper Sales (billion lbs) 3 2.4 2.3 5 2.0 2 1.3 4.1 1 3.9 3.9 4 3.8 0 2007 2008 2009e 2010e Pro Forma* 3 ____________________ Note: Consolidated gold sales include…
  15. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 15
    2009e Sales and Unit Production Costs by Region 2009e Sales by Region (1) North America South America Indonesia 2.3 1,380 1,330 1,130 56 Au Cu Mo Cu mm ozs Cu Au mm lbs mm lbs mm lbs 0.1 mm lbs mm ozs North South (per…
  16. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 16
    EBITDA and Cash Flow at Various Copper Prices 2010e Annual EBITDA (900 Gold & 10 Molybdenum) 10 (US billions) 8 6 4 2 0 Cu 2.00/lb Cu 2.50/lb Cu 3.00/lb 2010e Annual Operating Cash Flow (excluding Working Capital)* (900 Gold…
  17. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 17
    Sensitivities 2010e Operating Change EBITDA Cash Flow (US millions) Copper: -/+ 0.10/lb 375 260 Molybdenum: -/+ 1.00/lb 55 45 Gold: -/+ 50/ounce 95 55 Diesel (1): -/+ 10% 35 20 Purchased Power (2): -/+ 10% 40 25 Currencies (3):…
  18. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 18
    Capital Expenditures (1) Major Projects All Other (US billions) 3.0 2.7 2.5 1.1 2.0 1.5 1.4 0.6 1.0 1.0 1.6 0.5 0.5 0.8 (2) (3) 0.5 0.0 2008 2009e 2010e (1) Capital expenditure estimates will continue to be reviewed and…
  19. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 19
    Tenke Fungurume Development Activities First Copper in March 2009 20
  20. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 20
    Tenke Fungurume Project Highlights y Largest Investment in DRC y World-Class Design & Construction y Significant Infrastructure Upgrades y Expanding Social & Community Programs Workers install a liner for the Tailings Storage…
  21. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 21
    Underground Mine Development in Indonesia Grasberg District Ore Bodies y Continuing underground development Grasberg Big Gossan mine open pit Grasberg Block Cave Expansion of the DOZ mine to 80,000 t/d with completion by 2010…
  22. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 22
    El Abra Sulfolix Project y Large sulfide mineral deposit underlying current oxide pit y New leach pad & modifications to existing crushing plant y Extends mine life 10+ years y Provides 300MM lbs copper/year aggregate to replace oxides y…
  23. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 23
    Balance Sheet Debt at 6/30/09: 7.2 Billion; Cash at 6/30/09: 1.3 Billion Significant Liquidity Strong Credit Metrics No Near-term Maturities Redeemed 340 MM 6% Senior Notes in August 2009 Converted 832 Million in…
  24. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 24
    Financial Policy Maintain Strong Balance Sheet & Liquidity Position Aggressive Cost Management Disciplined Approach to Capital Spending Board to Review Financial Policy on an Ongoing Basis 25
  25. 2009 Global Steel and Mining Conference – Freeport-Mcmoran Inc. – slide 25
    FCX Investment Summary Worlds Premier Publicly Traded Copper Company Worlds Largest Molybdenum Producer & Significant Gold Producer Long-lived Reserves, Geographically Diverse Operations Flexible Operating Structure Can…

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