Freeport-McMoRan Provides Update on PT Freeport Indonesia Operations
12 Febrero 2023 - 9:42PM
Business Wire
Freeport-McMoRan Inc. (NYSE: FCX) announced today that PT
Freeport Indonesia's (PT-FI) Grasberg operations have been
temporarily disrupted because of significant rainfall and
landslides in the area of its milling operations in Papua,
Indonesia. Intense rains on Saturday February 11, 2023, resulted in
flooding and a flow of debris, causing damage to infrastructure
near its milling complex. Personnel were safely evacuated from the
localized area.
PT-FI is conducting a damage assessment and preparing a recovery
plan to resume operations. Preliminary estimates, which are subject
to change as assessments are completed, indicate operations can be
restored by the end of February 2023. There is no impact to PT-FI's
long term plans.
PT-FI's daily production approximates nearly 5 million pounds of
copper and 5,000 ounces of gold. As a result of the disruption, FCX
expects its first-quarter 2023 sales to be lower than the guidance
provided on January 25, 2023, of 900 million pounds of copper and
300 thousand ounces of gold.
FREEPORT: Foremost in Copper
FCX is a leading international mining company with headquarters
in Phoenix, Arizona. FCX operates large, long-lived, geographically
diverse assets with significant proven and probable reserves of
copper, gold and molybdenum. FCX is one of the world’s largest
publicly traded copper producers.
FCX’s portfolio of assets includes the Grasberg minerals
district in Indonesia, one of the world’s largest copper and gold
deposits; and significant mining operations in North America and
South America, including the large-scale Morenci minerals district
in Arizona and the Cerro Verde operation in Peru.
By supplying responsibly produced copper, FCX is proud to be a
positive contributor to the world well beyond its operational
boundaries. Additional information about FCX is available on FCX's
website at fcx.com.
Cautionary Statement Regarding Forward-Looking
Statements: This press release 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 plans, projections or expectations
relating to production activities and operating plans. The words
“anticipates,” “may,” “can,” “plans,” “believes,” “estimates,”
“expects,” “projects,” "targets," “intends,” “likely,” “will,”
“should,” “to be,” ”potential" and any similar expressions are
intended to identify those assertions as forward-looking
statements.
FCX cautions readers that forward-looking statements are not
guarantees of future performance and actual results may differ
materially from those anticipated, expected, projected or assumed
in the forward-looking statements. Important factors that can cause
FCX's actual results to differ materially from those anticipated in
the forward-looking statements include, but are not limited to,
factors described in more detail under the heading “Risk Factors”
in FCX's Annual Report on Form 10-K for the year ended December 31,
2021, filed with the U.S. Securities and Exchange Commission
(SEC).
Investors are cautioned that many of the assumptions upon which
FCX's forward-looking statements are based are likely to change
after the forward-looking statements are made, including for
example commodity prices, which FCX cannot control, and production
volumes and costs, some aspects of which FCX may not be able to
control. Further, FCX may make changes to its business plans that
could affect its results. FCX cautions investors that it does not
intend to update forward-looking statements more frequently than
quarterly notwithstanding any changes in its assumptions, changes
in business plans, actual experience or other changes, and FCX
undertakes no obligation to update any forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20230212005038/en/
Financial Contact: David P. Joint (504) 582-4203 Media Contact:
Linda S. Hayes (602) 366-7824
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