Freeport-McMoRan 2004 Annual Report Download - page 13

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฀ At฀the฀end฀of฀2004,฀PT฀Freeport฀Indonesia’s฀share฀of฀
proven฀and฀probable฀reserves฀totaled฀more฀than฀40฀billion฀
pounds฀of฀recoverable฀copper฀and฀more฀than฀46฀million฀ounces฀
of฀recoverable฀gold฀contained฀in฀2.8฀billion฀metric฀tons฀
of฀ore฀averaging฀1.09฀percent฀copper฀and฀0.97฀grams฀per฀
metric฀ton฀of฀gold.฀
฀฀ PT฀Freeport฀Indonesia’s฀exploration฀efforts฀in฀2005฀
will฀be฀focused฀on฀evaluating฀potential฀extensions฀of฀
the฀MLZ฀and฀Deep฀MLZ฀deposits,฀a฀potential฀expansion฀
of฀the฀Grasberg฀underground฀resource,฀and฀assessing฀
reconnaissance฀targets฀along฀the฀Wanagon฀and฀Idenberg฀
fault฀trends,฀located฀south฀of฀the฀Grasberg฀open-pit฀฀
mine.฀The฀resumption฀of฀exploration฀activities฀in฀the฀฀
2.2฀million฀acre฀highly฀prospective฀exploration฀area฀outside฀
the฀existing฀producing฀area฀of฀the฀Grasberg฀minerals฀
district฀is฀being฀assessed.
05e 06e 07e 08e 09e
FCX Capital Expenditures
in millions of dollars
e = Estimate
50
100
150
200
$95
2005e Capital Expenditures
in millions of dollars
e = Estimate
Common Infrastructure
DOZ 50K Expansion Capital
Atlantic Copper & Other
DOZ Capital
Sustaining
$17
$19
$23
$26
Geologists฀working฀in฀the฀
richly฀endowed฀Grasberg฀
minerals฀district฀apply฀
high฀technology฀to฀grow฀
the฀reserve฀base.
฀A฀detailed฀discussion฀
of฀our฀operations฀and฀financial฀matters,฀including฀our฀
audited฀financial฀statements,฀is฀included฀in฀this฀report.฀
We฀invite฀you฀to฀review฀“Management’s฀Discussion฀and฀
Analysis,”฀as฀well฀as฀the฀financial฀statements฀in฀the฀฀
following฀pages.฀If฀you฀have฀any฀questions฀or฀would฀like฀
additional฀information฀about฀FCX฀or฀its฀affiliates,฀please฀
contact฀our฀Investor฀Relations฀Department,฀1615฀Poydras฀
Street,฀New฀Orleans,฀LA฀70112,฀(504)฀582-4000;฀or฀฀
access฀our฀web฀site,฀www.fcx.com.
|฀11