FCX South America Sales Expected To Be 1.3 Billion Pounds Of Copper In 2019

PHOENIX, AZ - Freeport-McMoRan Inc. (FCX) operates two copper mines in South America: Cerro Verde in Peru (in which FCX owns a 53.56 percent interest) and El Abra in Chile (in which FCX owns a 51 percent interest). Cerro Verde's expanded operations benefit from its large-scale, long-lived reserves and cost efficiencies. Cerro Verde's concentrator facilities have continued to perform well, with average mill throughput rates of 386,500 metric tons of ore per day in first-quarter 2019. Debottlenecking projects and additional initiatives to enhance operating rates are being advanced. FCX continues to evaluate a large-scale expansion at El Abra to process additional sulfide material and to achieve higher recoveries. El Abra's large sulfide resource could potentially support a major mill project similar to facilities constructed at Cerro Verde. Technical and economic studies are being advanced to determine the optimal scope and timing for the project.

Sales from South America mining are expected to approximate 1.3 billion pounds of copper for the year 2019, similar to 2018.

The company’s address is 333 N. Central Ave., Phoenix, AZ 85004, (602) 366-8100, www.fcx.com.