Richard, you, starting with presentation and be materials, the Slide covering Thank Okay. X. I'll
Our here. achievements summarized are for XXXX
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production the enhancing the Americas, by the including Indonesian smelter XXXX. projects and optionality targeted XX% during growth year, for run milestones several end our in -- reaching incremental the target our in our in successful project brownfield Americas completion for of also were our milestone reaching We for the reaching leach rate
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] volumes in challenging XXXX we production. another XXXX, [ and X, reported environment we copper compared XXXX supplies XXXX of despite to Slide with growing Richard levels. gold for the we production and for summarize copper On of growth a in After results able to our see from XXXX key year historical discussed, were
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XXXX. since to payout financed we total ended in bringing we shareholder million, implemented year the and which billion shareholders, to the During $X.X our separately. performance-based being of XXXX, excludes debt framework million net the returns We [indiscernible] related approximately $XXX returned debt, $XXX that with is
about the and going talk to X to fourth Slide move was I quarter.
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mentioned, transition fully end the in the Grasberg at beginning we of XXXX. from in stopped As operations XXXX, open Richard underground surface the pit mining to
Indonesia, record long and a years XX years for in We track for spanning great stakeholders. over value have building many all over a history
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months. turning XXXX market surplus time, to period XXX,XXX in a deficit by time. would total, previously expecting time. increased in a be small over and At continuing very near-term for have XXXX tons meaningfully in beginning time short supplies supply of market was that frame of some copper been The the same and disruption recent In reduced
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look Turning Freeport growth into sizable resource the the and positioning to even a Slide to production future larger options. Freeport really really look demand, XX. this pipeline that is reserve try We grow market position has for of position at how to in sizable that response at supports on copper
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and range the see right-hand on year price copper per production. sensitivities really projects operating side $XX opportunities periods to us positioned but positioned cash $X And to commodities billion and various growth and framework. lot copper, we've the metals to And here $XX performance-based to well EBITDA all will that on under over cash of and billion. copper only this charts a at to give growth, the annum the to would in billion generate returns to from you reserves, under benefit range payout enhance per on large-scale exposure future future of from from these $X over the are can intensive billion scenarios ability $X lot have got at our of projects chart, these well flows with returns not We annual current our $XX
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slide, value, distributed profile. have You on may the shareholders. shareholders $X payout and attractive long-term to continue financial long-term an that enable the just portfolio since to through strong framework that and rating purchases dividends Indicated our and will was future upgraded build we've implemented share December, XXXX credit in our half almost billion demonstrates second of that us have seen to value in the for we Moody's
being strategy business go in of safely The to continue really in and we highly on our driven as pursuing and we're our global long-term the value team responsibly, foremost is focused efficiently. executing forward titer, and plans
for questions. your And to now thank their attention, want and take I we'll everybody
