Grasberg Project and Financial Update
Lone Star Update
Oxides
2P Reserves: 5.4 billion lbs
75
-
~ 95
105 (1)
FREEPORT
FOREMOST IN COPPER
Low capital
intensity
investment
in additional
mining and
processing
equipment
Sulfides
Mineral Potential: ~50 billion lbs (3)
>>> Success of oxide development advances
opportunity for scale
>>>Design to incorporate combined leach and
concentrate facilities - similar to Morenci
>>> Next steps
› Ongoing exploration to support metallurgical testing
Stacking
rate
tpd
Original Design
2020 start-up
~200 mm
2021e
Under
Evaluation
(2)
~300 mm
~250 mm
lbs/annum
(1) Initially at 105k t/d with ramp-up to 120k t/d by 2024.
(2) Excludes historic Safford leach material which currently approximates 25 mm lbs/annum.
› Scope studies/mine planning scenarios.
(3) Estimated mineral potential includes exploration targets and mineral resources but will not qualify as mineral reserves until comprehensive engineering studies establish legal and economic feasibility.
Accordingly, no assurance can be given that estimated mineral potential not included in reserves will become proven and probable mineral reserves.
e = estimate See Cautionary Statement.
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