Freeport-mcmoran, Inc. · NYSE:FCX

Freeport-mcmoran — 2016 Global Metals, Mining & Steel Conference

10 slides from Freeport-mcmoran's conference presentation, May 10, 2016

  1. Slide 1: 2016 Global Metals, Mining & Steel Conference

    2016 Global Metals, Mining & Steel Conference Richard C. Adkerson President & CEO May 10, 2016

  2. Slide 2: Cautionary Statement Regarding Forward-Looking Statements

    Cautionary Statement Regarding Forward-Looking Statements This presentation contains forward-looking statements in which FCX discusses its potential future performance. Forward-looking statements are all statements other than statements of historical facts, such as projections or expectations relati

  3. Slide 3: "Proving Our Mettle"

    “Proving Our Mettle” met·tle /ˈmedl/ n: 1. a person’s ability to cope well with difficulties or to face a demanding situation in a spirited and resilient way. 2015 Annual Report Highlights  Executing Clearly Defined Strategy  Maintaining Cost Focus and Capital Discipline  Strengthen Balance Sheet

  4. Slide 4: Sale of 56% Interest in Tenke

    Sale of 56% Interest in Tenke  Announced Definitive Agreement on May 9, 2016  China Molybdenum Co. Ltd. (CMOC) to Acquire 70% of TF Holdings Limited  $2.65 Billion Cash to FCX − Plus Contingent Consideration of Up to $120 mm* − Exclusive Negotiations with CMOC to Sell Statistics Freeport Cobalt a

  5. Slide 5: Asset Sale Transactions To Date in 2016

    Asset Sale Transactions To Date in 2016 2015 Date of EBITDA@ Expected Agreement Consideration ~$2.43 Cu Closing ($ in billions) ($ in millions) (1) Morenci (13% Interest) 2/15/16 $1.0 $115 2Q16 (2) Timok Exploration Project 3/3/16 $0.3 $(16) Closed Oil and Gas Royalty Interests 4/21/16 $0.1 ~$10 2Q1

  6. Slide 6: Executing in a Weak Commodity Market Supported by Portfolio of High Quality Assets

    Executing in a Weak Commodity Market Supported by Portfolio of High Quality Assets Adjusted Mine Plans Curtailed High Cost Production CAPEX Completion Reductions & of Major Cost Management • Execution of Clearly Projects Defined Strategy • Strengthen Balance Sheet • Maintain High Quality Portfolio o

  7. Slide 7: Premier Portfolio of Long-Lived, Geographically Diverse Global Mining Assets

    Premier Portfolio of Long-Lived, Geographically Diverse Global Mining Assets Largest Copper Mine World’s Largest One of Largest Copper/ High Grade Copper/ in North America Concentrating Facility Gold Reserves in World Cobalt Resource Cu Reserves: 34 bn lbs Cu Reserves: 31 bn lbs Cu Reserves: 28 bn l

  8. Slide 8: Cerro Verde Project Execution

    Cerro Verde Project Execution • Completed Construction of World’s Largest Concentrating Facility • Strong Performance on Capital Cost Management and Startup • Achieved Full Capacity Operating Rates During 1Q16 Cerro Verde Mill Rate Performance 000’s t/d milled 373 338 309 301 Concentrator #2 222 (Ex

  9. Slide 9: Positive Free Cash Flow in Mining Business with Significant Leverage to Recovery

    Positive Free Cash Flow in Mining Business with Significant Leverage to Recovery ($ in billions) 2016e 2015 1Q16 2016e EBITDA CAPEX $6.8 $5.7 $4.6 $3.3 $3.3 Major Avg. Cu: Projects $1.8 $2.42 $2.4 $0.8 $1.4 Avg. Cu: $0.5 Other $0.9 $2.17 $0.4 EBITDA CAPEX EBITDA CAPEX (1) @ $2.00 @ $2.25 @ $2.50 CAP

  10. Slide 10: Focused on Execution

    Focused on Execution Cost, Capital & Production Performance Safety & Securing Long- Environmental term Rights in Management Indonesia Asset Sales Debt Reduction Strong Track Record 10

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