Freeport-McMoRan 2014 Annual Report Download - page 80

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MANAGEMENT’S DISCUSSION AND ANALYSIS
78
CAUTIONARY STATEMENT
Our discussion and analysis contains forward-looking statements
in which we discuss factors we believe may affect our future
performance. Forward-looking statements are all statements other
than statements of historical facts, such as projections or
expectations relating to ore grades and milling rates; production
and sales volumes; unit net cash costs; cash production costs per
BOE; operating cash flows; capital expenditures; exploration
efforts and results; development and production activities and
costs; liquidity; tax rates; the impact of copper, gold, molybdenum,
cobalt, crude oil and natural gas price changes; the impact of
derivative positions; the impact of deferred intercompany profits
on earnings; reserve estimates; future dividend payments; debt
reduction; and share purchases. The words “anticipates,“ “may,“
“can,“ “plans,“ “believes,“ “potential,“ “estimates,“ “expects,“
“projects,“ “targets,“ “intends,“ “likely,“ “will,“ “should,“ “to be“
and any similar expressions are intended to identify those
assertions as forward-looking statements. The declaration of
dividends is at the discretion of the Board and will depend on our
financial results, cash requirements, future prospects, and other
factors deemed relevant by the Board.
We caution readers that forward-looking statements are not
guarantees of future performance and that our actual results may
differ materially from those anticipated, projected or assumed in
the forward-looking statements. Important factors that can cause
our actual results to differ materially from those anticipated in the
forward-looking statements include supply of and demand for,
and prices of copper, gold, molybdenum, cobalt, oil and gas, mine
sequencing, production rates, industry risks, regulatory changes,
political risks, drilling results, the outcome of negotiations with
the Indonesian government regarding an amendment to PT-FI’s
COW, PT-FI’s ability to obtain renewal of its export license after
July 25, 2015, the potential effects of violence in Indonesia, the
resolution of administrative disputes in the Democratic Republic
of Congo, weather- and climate-related risks, labor relations,
environmental risks, litigation results and other factors described
in more detail under the heading “Risk Factors“ in our annual
report on Form 10-K for the year ended December 31, 2014, filed
with the SEC as updated by our subsequent filings with the SEC.
Investors are cautioned that many of the assumptions on which
our forward-looking statements are based are likely to change
after our forward-looking statements are made, including for
example commodity prices, which we cannot control, and
production volumes and costs, some aspects of which we may or
may not be able to control. Further, we may make changes to our
business plans that could or will affect our results. We caution
investors that we do not intend to update forward-looking
statements more frequently than quarterly notwithstanding any
changes in our assumptions, changes in business plans, actual
experience or other changes, and we undertake no obligation to
update any forward-looking statements.