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Adkerson
President & Chief Executive Officer
3
Worlds Leading Copper Producers
Top 10 Copper Producers (2016e)
(000 t)
2,000
1,500
1,000
500
0
Codelco Freeport-
McMoRan
* Glencore BHP Southern
Copper
KGHM Rio Tinto Antofagasta First
Quantum
Vale
* Reflects Morenci ownership of 85% interest through 5/31/16 and 72% interest from 6/1/16; excludes Tenke Fungurume which was sold November 2016.
Source: Wood Mackenzie December 13, 2016. Rankings based on net equity ownership. 4
Copper Market Commentary
LME Copper Price
Improved Market Sentiment
per pound Supported by Fundamentals
$3.00
$2.67
2/24/17
Global Economic Conditions
$2.75
Improving
$2.50
Supply Growth is Challenged
$2.25
$2.00
New Supplies Required
>$3/lb Copper Price
$1.75
12/31/15 3/31/16 6/30/16 9/30/16 12/31/16
NOTE: North America amounts include Cu operations: Morenci (72%), Sierrita, Bagdad, Tyrone, Safford, Miami and Chino; Primary Mo: Henderson and Climax;
South America amounts include Cu operations: Cerro Verde and El Abra. Sales amounts based on 2016. Implied life for Americas equals reserves plus
mineralized material divided by 2017e sales; Implied life for Indonesia through 2041 CoW. e = estimate. See Cautionary Statement. 6
Showcasing Americas Portfolio
Americas Copper Resources
Key Strengths
(bns of lbs) 266
Significant Current Production with Including
Potential
Long-term Growth Options
137
Including
Long-Lived Reserves Mineralized
60
Material*
2P Reserves @ $2.20
Flexible Operating Structure @ $2.00 Cu Contained Cu
* Mineralized Material and potential resources are not included in reserves and will
not qualify as reserves until comprehensive engineering studies establish their
All Operated by FCX Provides Synergies economic feasibility. Accordingly, no assurance can be given that the estimated
mineralized material and potential resources will become proven and probable
reserves. See Cautionary Statement.
% Copper N
>=0.00%
>=0.10%
Bagdad
>=0.20%
>=0.30%
Reserve Pit
>=0.40%
>=0.60%
>=0.80%
>=1.00%
Chino +0.3% Cu
El Abra
Lone Star/Safford
1 km
N Reserve Pit
Morenci % Copper
>=0.00%
Sierrita
>=0.20%
>=0.30%
>=0.40%
>=0.50%
>=0.60%
+0.3%
Cu Shell
Big
Tonnes (mm) 439 964
Gossan DOZ
Copper Grade (%) 0.9 1.03 Grasberg
Block Cave
Gold Grade (g/t) 0.75 0.78 Kucing
Liar Amole
Copper (bn lbs) 7.6 18.5
N 2,900 m elev DOZ
Gold (mm ozs) 8.4 15.7
Big
Kucing Liar Spur
Start-up Year 2015 2018 Gossan Grasberg
MLA DMLZ
BC Spur
Target (K t/d) 80 140-160 Big Gossan Spur
DMLZ Spur
Ramp-up (years) 6N 6
Portals
Common Infrastructure
(at Ridge Camp) N
2,500 m elev
* 100% Basis
NOTE: Ore grades in ramp-up of underground mines expected to be higher than life-of-mine average
e = estimate. See Cautionary Statement. 10
Financial Benefits to Indonesia
Positive Long-term Partnership Financial Benefits Breakdown
~$19 Billion
Long History of Operating in Country Since 1960s
GOI
Contributed +$60 Bn to National GDP in Since 1992
62%
FCX
Largest Private Employer in Papua & Significant 38%
Economic Engine for Development in Region
(2007-2016)
One of the Largest Taxpayers in Indonesia