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to quarter Indonesia, gold quarter. reflected gold quarter. estimates slightly turn fourth the higher with in timing gold is administrative up the production, third were and estimates sales in our copper And set that some our associated expected below X% sales approvals above strong Our were into shipments for going despite but previous this
impact net we unit $X.XX continue Indonesian with that guidance was third in $X.X average per duties which per ago of pound similar averaged pound to $X.XX export EBITDA prices generated pound quarter basis the the in to the review reflects to increase largely Indonesia, $X.XX the discuss a in on we quarter. per of costs quarter, of Our copper With our and The billion. consolidated government. of compared cash the year
shape. totaled The a our those that balance cash smelter sheet, totaling in our $XXX Indonesia. we financing the smelter which our $XXX we're talked in quarter, XX% greenfield on the in to on up Richard construction were and begin mining projects on being million raised last new exceeded transaction.
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Indonesia, smelter quarter debt the projects with Excluding associated with we debt. $XXX the net million ended in the in net
quarter to our drive several going As plans business. value focused strong of our on XXXX, of end safe advance and our the to team strong long-term and we to important continue production we operating expect continuing to we're remains in have and execution results, approach of initiatives another
for economy. sentiment by slide, Richard investments electrification been X. and strength rising global compelling, next interest U.S. term, dollar demand characterized as We on rising with the supplies. to outlook and Moving settlement fundamental by limited mentioned, the global talk prices about short rates, In copper macro in tied have the associated to copper impacted And long-term remains the Slide copper markets.
follows look relation they inventories historical growing demand multiyear to exchanges risen are standards recent and mitigating look and remain of we at When of a drivers need exchanges, the in by overall the structural on have in when the inventories ground, uses. weeks, that low also the Copper the we size on the And ground. market. the to copper period cyclical declines. The the reality at macro reality for look on traditional on the new we sentiment, at
power in activity our being and rising China's signs several are pockets residential in And reporting other that investments building recent consumption customers vehicle from of and tied U.S., continues for In utilities sectors. offset cable China. centers of massive housing, wire production. are supported to the in despite but this property demand picking There grow sector, solar weak growth electric seeing up is weakness the in sector. wind we're economic the is by and the to country's in growth and automotive data and
when but used than the positioned other it strong. to our countries. Freeport per outlook is which forces is macro predict well the comes Copper We're remains for catheter also a We conviction metal less electrification copper copper as seeing leader in and long-term the growth can't that industry. in fundamental the have India, historically influenced global copper consumption in market, has short-term heavily
new more with long in is project believe short-term The to a we develop a will mines, weakness prices in we not Freeport, to reserve of incentivize at major is the on mindful accelerate the development, challenge. recent industry and by expected the meet new rising making sustainable demand need we're current look capital With new demand difficult to and even rise higher for XXXX. costs price which the and it combined are the third-party be we is to this position essential We're When business take also position at price, a At is pressures looking justify resource backdrop, to years with to grow view to benefit the the to copper to double where large the going of ability supplies.
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X outlook Slide sales X-year provides volumes. our for
to updated XX no from increased unchanged sales forecast. our do believe on We've reflects largely 'XX. that 'XX or is expected this see material and work success continued and we copper changes the our You'll these enhancements leach There the We by our in have with volumes U.S. in about prior our XXXX is Indonesia. guidance efforts shipping for numbers in productivity pounds, some million in schedules upside
sales. as earlier. Indonesia similar and from The and shipping to of our XX% represents to America the copper We have sales. XXXX our regional turning sales about sales forecasts, Americas, XXXX estimates molybdenum America, unit Americas cash copper -- data cost and our our our reflect and Slide by all been and all prior I show on XX% We're are projected to sales of comprise North net region. our volumes including mentioned increased of of schedules The our Indonesia South gold X. volumes
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equipment those services, risen that and to effective we're have series cost management maintenance working try input component and contract costs through hard to Our costs a enhancements. productivity of mitigate and
these flows Turning copper. sensitivities $X to our of cash XXXX cash changes for flow The billion copper a price $XX $X EBITDA these cash $XX so costs changes $X page, showing got $X We've range at $XX based copper and the on under range $X at from prices. assumptions. from on would for Slide results We to on range under would in flows annual input XXXX, X. EBITDA billion to billion looking billion and copper can at the nearly model use and you to annum scenarios for per operating or
life reserves our organic provide and positioned large-scale under With cash well investments growth, that intensive future performance-based and production, metals for benefit and from to opportunities will framework. we're long payout returns
we On 'XX, for with our And for the expenditures is similar estimate capital our 'XX estimate. Slide $X.X show $X.X and billion. current our XXXX $X.X total billion of for to prior billion compared XXXX capital prior for forecast XX, is
from we to X project capital we've coal year. cleaner commence discretionary new project over a added to that our to XXXX, to start to next transition in years, the some energy expect LNG For Indonesia and source X next
details than are projects category we're materials. our XX% in those on a over $X reflects distributed. of cash the policy less new under 'XX the making some billion total available financial that's This capital with 'XX. We've projects that funded investments reference discretionary and The got in projects not
the a This making included major excuse toward efficiently. I executed being some updated me, completion. Slide very project pictures undertaking. in steady progress -- mean, XX, is smelter It's Indonesia. of we've X Slide We're
For middle and project of expansion doing completion next the we smelter an up we're the construction with year partner complete existing to the year. in end the greenfield smelter, we're of We're on production nearing expect ramping that full the also commissioning now and Indonesia. by to XX% project by of begin the to our expand
expect this by XXXX. end year the be in construction of to We completed
We're contractor for execution our team our schedules strong meet of and in complex really project the outside and pleased very environment a internal to costs development. contain project with major
initiatives. update on to website. available is climate plans develop wanted just I We we're the to an during coal mentioned advancing I XX, our to quarter, Slide updated report you which in third on some On or LNG. climate But the published transition Indonesia,
coal have that to roughly units looked that plans and cost of ago. We time. The XX replace the and combined economics, develop XXX-megawatt eliminate $X refurbish and were cycle over we as would the it, at would has existing a gas-fired developed a there units billion coal the over cost facility expand to years project the
economic So the project cost incremental million. of $XXX is roughly this
with reduction the order baseline. significantly would be PT-FI's emissions. of Importantly, on the XXXX would gas compared undertaken initiatives, transition greenhouse the reduce the to PT-FI's And total XX% other together
forward. a looking exciting for project So very it's us
from XXXX. We're in will pleased report allow to power power that benefit XXX% the Verde also agreement very of a its Cerro that purchase renewable Verde sources we of in have at Peru Cerro new
The our and in long-term have continue will enable We've within attractive execute sheet to time, financial for build and policy targets we've on long-term distributed And value-enhancing finally, reiterate $X.X we to we an us portfolio dividends significant over strong on that a shareholders is strong on XX, flexibility to strong. through future shareholders. purchases. balance priorities to investments to Same balance And value got debt projects. billion share to metrics, our sheet, projects. centered shareholders returns cash Slide credit growth the wanted
pursuing team to to to executing business though, value We've challenging going our conditions. monitor manage focus current focus has flexibility and to continue ensure safely in in the long-term got our navigating the while of to a And and on efficiently. situation, maintaining current plans our remains our and strong. market conditions timing responsibly, on experienced projects We'll financial carefully really continue we're the
now and take remarks, your and prepared questions. all appreciate interest, our we your attention concludes and That we'll
