ADDED
Employer Identification No.) incorporation or organization) 4340 E.
Common stock issued and outstanding was 1,437,201,606 shares on January 31, 2026.
Our portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world s largest copper and gold deposits; and significant operations in the U.S.
and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru.
We believe fundamentals for copper are favorable with growing demand supported by copper s critical role in electrification initiatives, continued urbanization in developing countries, data centers and artificial intelligence (AI) growth, increased defense spending and growing connectivity globally.
We believe that we are well positioned for the future as a leading producer of copper with significant copper reserves and resources and a high-quality portfolio of growth projects to provide additional supplies of copper to a growing market.
Our experienced team is committed to value creation through solid execution of our plans, operational excellence and advancing opportunities for long-term organic growth.
We continue to evaluate and advance potential expansion opportunities at certain of our copper mines in the U.S.
and South America operations, we are incorporating new applications, technologies and data analytics into our leaching processes.
In late 2025, we achieved an annual run rate of approximately 240 million pounds of copper.
REMOVED
Common stock issued and outstanding was 1,437,073,006 shares on January 31, 2025.
Our portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world s largest copper and gold deposits; and significant operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru.
Our results for 2024 reflect solid execution of our operating plans and we are committed to enhancing productivity, managing costs and capital and advancing opportunities for long-term profitable growth and value creation.
We believe the actions we have taken in recent years to strengthen our balance sheet and maintain flexible organic growth options will allow us to continue to execute our business plans, and reliably and responsibly generate cash flows to pursue value-enhancing organic growth options and return cash to shareholders.
We believe that we have a high-quality portfolio of long-lived copper assets positioned to generate long-term value, and we remain focused on executing our operating and investment plans.
Our underground mining operations at the Grasberg minerals district in Indonesia continue to perform well, with copper production increasing in each of the past three years.
During 2024, construction of PT Freeport Indonesia s (PT-FI) new smelter and precious metals refinery (PMR) (collectively, PT-FI s new downstream processing facilities) in Eastern Java, Indonesia were completed and as part of start-up activities, PT-FI commenced gold production from the PMR in December 2024.
In October 2024, during start-up activities of the new smelter, a fire occurred requiring a temporary suspension of smelting operations to complete repairs.
PT-FI expects repairs to be completed by mid-2025 and ramp-up to full capacity to be achieved by year-end 2025.
We are progressing initiatives across our North America and South America operations by incorporating new applications, technologies and data analytics to our leaching processes.