Freeport-McMoRan Reports Fourth-Quarter and Year Ended 2020 Results

Strong execution of operating plans

Solid cost & capital management

Ramp-up of Grasberg underground advancing on schedule

Fourth-quarter 2020 copper and gold sales 3% and 9% above October 2020 estimates

Strong cash flow generation

PHOENIX, AZ (STL.News) Freeport-McMoRan Inc. (NYSE: FCX) reported net income attributable to common stock of $708 million, $0.48 per share, in fourth-quarter2020 and $599 million, $0.41 per share, for the year 2020.  After adjusting for net credits totaling $142 million, $0.10 per share, mostly associated with a gain on sale of assets, partly offset by charges for a litigation settlement and international tax matters, and other net charges, adjusted net income attributable to common stock totaled $566 million, $0.39 per share, in fourth-quarter2020.