Says achieved approx. 50% increase in incremental copper from leach initiative in 2024. Says North America volumes and costs expected to improve in 2025. Says Bagdad autonomous haulage expected to be commissioned in 2025. Says potential for ‘critical mineral’ designation for copper through legislation and possible 10% tax credit. Says expecting lower ore grades at Cerro Verde in 2025. Says testing new leach applications at El Abra. Says outlook for Grasberg is ‘positive’. Says new smelter repairs in progress with completion expected mid-2025. Says expects to receive authorization for concentrate exports in 2025.
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