Grasberg Project and Financial Update
2021e Outlook
Sales
Outlook
Unit Net Cash
Cost of Copper
>>> Copper: 3.81 billion lbs >>> Site prod. & delivery
> 2021e: $1.92/lb (1)
>>> Gold: 1.3 million ozs
>>> Molybdenum: 85
million lbs
> 4Q21e: $1.91/lb
>>>After by-product credits (2)
> 2021e: $1.33/lb (1)
> 4Q21e: $1.26/lb
FREEPORT
FOREMOST IN COPPER
Operating
Cash Flows (3)
>>> $7.5 billion @ $4.50/lb
copper for 4Q21e
>>>Each 10¢/lb change in
copper in 4Q21e = $100
million impact
Capital
Expenditures
(4)
>>> $2.3 billion ($2.0 billion
excluding smelter)
> $1.3 billion for major projects
› $0.7 billion for other mining
› $0.3 billion for Indonesia
smelter projects
(5)
(1) Includes 2¢/lb associated with nonrecurring labor-related charges at Cerro Verde for agreements reached with -65% of its hourly employees.
(2) Assumes average prices of $1,800/oz gold and $19/lb molybdenum in 4Q21e.
(3) Assumes average prices of $1,800/oz gold and $19/lb molybdenum in 4Q21e; each $100/oz change in gold would have an approximate $25 mm impact and
each $2/lb change in molybdenum would have an approximate $15 mm impact.
(4) PT Inalum scheduled contributions in 2021e approximate $0.2 bn.
(5) Smelter project is currently being funded through PT-FI's $1 bn unsecured bank credit facility.
e = estimate. See Cautionary Statement.
30View entire presentation