Freeport-McMoRan Provides Operational Update

Freeport-McMoRan Inc. said it has made continued progress in growing copper and gold volumes by 30 to 40 per cent, reducing net unit cash costs of copper by 25 per cent to approximately US$1.30 per pound, and more than doubling cash flows by 2021 compared with 2019.

The company remains focused on increasing volumes from its underground orebodies in Papua, Indonesia. Quarter-to-date through 5 March 2020, production from the Grasberg Block Cave and Deep MLZ orebodies averaged approximately 35,000 metric tonnes of ore per day, 35 per cent above the fourth quarter 2019 average and in line with expectations.

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