Company Announcements

PHOENIX--(BUSINESS WIRE)--Oct. 10, 2025-- Freeport (NYSE: FCX) today announced that it plans to hold a conference call with analysts and investors in November 2025, to provide a report on the investigation of the September 8, 2025, mud rush incident at the Grasberg Block Cave and present FCX’s multi-year operational and financial outlook, including for PT Freeport Indonesia (PTFI). FCX and PTFI are advancing the investigation, damage assessments and the development of future operating plans. The date of the November 2025 conference call will be announced as the investigation progresses toward completion.

On September 24, 2025, FCX provided a preliminary assessment of potential production impacts from this incident. There have been no updates to this assessment. Further information will be provided as the investigation progresses, and damage assessments are completed.

FCX will issue its third-quarter 2025 earnings press release on its customary schedule on Thursday, October 23, 2025, before the market opens, and file its third-quarter 2025 Form 10-Q with the Securities and Exchange Commission by the November 10, 2025, filing deadline. The change in timing for FCX’s customary quarterly conference call will allow time to progress the investigation, damage assessments and incorporate results in future operating plans.

FREEPORT: Foremost in Copper

FCX is a leading international metals company with the objective of being foremost in copper. Headquartered 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 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: This press release contains forward-looking statements. Forward-looking statements are all statements other than statements of historical facts, such as plans, projections or expectations relating to or affected by the incident at PTFI’s Grasberg Block Cave mine, recovery assessments, investigations, repair efforts and phased restart and ramp-up of operations following the incident at PTFI’s Grasberg Block Cave mine and the anticipated impact on future production, results of operations and, operating plans and recoveries under insurance policies. The words “anticipates,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,” “targets,” “intends,” “likely,” “will,” “should,” “could,” “to be,” “potential,” “assumptions,” “guidance,” “forecasts,” “future,” “pursues,” “initiatives,” “objectives,” “opportunities,” “strategy” 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, ability to repair incident-related damage; complete the investigation to the satisfaction of the Indonesian government authorities and implement any recommendations therefrom; safely restart and phase-in ramp-up of production on the expected timeline and optimize production plans; recover amounts under insurance policies; resolve force majeure declarations and maintain relationships with commercial counterparties; production rates; as well as those 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, 2024, filed with the U.S. Securities and Exchange Commission.

Investors are cautioned that many of the assumptions upon which FCX’s forward-looking statements are based are likely to change after the date the forward-looking statements are made. Further, FCX may make changes to its business plans that could affect its results. FCX undertakes no obligation to update any forward-looking statements, which are as of the date made, notwithstanding any changes in its assumptions, changes in business plans, actual experience or other changes.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251009344976/en/

Financial Contact:
David P. Joint
(504) 582-4203

Media Contact:
Linda S. Hayes
(602) 366-7824

Source: Freeport-McMoRan Inc.