our first XXXX. going Thank Richard, you, I'm months Slide the third slide for Great. and start X on quarter to X Okay. of and our on presentation, with starting highlights
plans Our in growth building team to organic pursue value aggressively through our and our deliver continues costs value managing and on efficiencies, portfolio. enhancing operating
You'll margins cash $X.X quarter see here, in operating the and billion strong flows EBITDA $X.X and flows. with during generated we billion in cash
initiatives and our supported performance operating to Our the to year on build We're quarter. guidance sales copper cost was ago cash and compared from exceeding performance guidance growth. and both gold favorable for both focused value organic volumes unit by
to opportunities, scale for underway position XX% requirements to market period than growth build the copper. In have long-term was volumes from large brownfield leach our innovative ongoing reserve and copper additional supply projects year, the XXXX, high The and to we've of technologies with months copper are the benefit results, growth embedded our X comparable for our we several production last advancing with and Reach U.S. business cost and our We're on scale in Freeport, longer-term Americas At options. incremental first improve position add initiative we a position. higher and medium-term a potential low-cost increased and from also delivering near-term, resource nearly initiatives the expansion business.
support of shares. in of During transactions serve and markets high-quality market Exchange represents X.X We and on optimistic quarter XX.X% The a Cerro ended quarter, financially. the for attractive Peruvian returns cash asset projects about level future position from purchased cost increase that of the the Stock allowed at XX%. copper investments a at prior X.X% strong million portfolio shares in look Verde million, ownership this highly value-enhancing $XXX of prospects very the about the verde And forward, third generation Cerro of and the the as we flow public assets our shareholders. outstanding to we to to in strong so we're we us and now to our
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per they exchange $X.XX per LME, pound. and $X.XX Comex for on $X.XX $X.XX the per on The LME range pound. settlement averaged per the range between pound pricers the $X.XX pound. And quarter the to from On
economic actions rates As against electrification, China other we and see economic traded, which for we Fed interest data look global stimulus strong China. secular the providing to at largely in micro At level, the demand demand the and where quarter by to sentiment, offsetting slowdown. pressures copper economic a potential followed impact weighed and they for trends in of central the continue large cyclical and banks and macro cut prices the associated with
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stimulus into we could move to in support China the country's announcements as for economic for targets XXXX growth Recent further economic metals and XXXX. through demand support provide
essential past, to of it in make electrification. and metal electrification. foundational As It's key superior a Copper we've and characteristics discussed is connectivity, a physical the component
increased forecast call and are future. and copper foreseeable growth demand above-trend for the technology renewable the for New massive grid, generation, investment in demand and for power infrastructure transportation driving
market continue with run. see a new require look to to is demand tightly innovative and at near This we going longer we investments supplies it As build and term. longer fundamentals technologies balanced in conditions these term and match the deficit of to supply, up
copper. results driven benefit lower future we're And In that the a are the reliably turn large-scale supply gold efficiencies at copper Freeport, the a remind cost take our industry and positioned in continuing fundamental major responsibly well growing gold to pipeline, from actions addition and outlook operations were U.S., to to a our we're leading geographic also everyone increasing our With and from position, to to on market. this where performance copper, quarterly Slide by benefiting for to I region. we current operating impact and We'll grades. producer X, prices. operations mitigate of we are improve to summarize growth
to of We performance with We're fat efficiency trends recent are trends hauling, loading, months and monitoring have improving. in and do, work stacking. indicators key asset positive seeing more closely but associated crushing areas key in recent
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reductions our XXX,XXX posted metric day another initiative Verde throughput quarter, per in improved recovery third and drive America, in further team quarter. of exceeded In South also at during the our structure. from scaling solid Mill production cost operation last addition, tons success our the In in incremental mill ore will the low-cost leach Cerro year's and quarter.
in Our less charge $X.XX quarter the cash than quarter, new per the a pound after nonrecurring unit costs excluding labor agreement. were net slightly third last year's for
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quarter the mill higher oil in were estimates increased and the into than grades. sales our rates period Our with going
quarter, good in strong sales in production from and gold levels. XX June performance We also from reduction a the benefited inventory reflecting
of continued at of and circuit plans, recoveries strong refinery. the Papua near-term support to Metals strong focus mill cleaning commissioning commissioning copper value-driven Precious in areas include site Our execution a our operating our
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construction Just facility October very a setback a an quarter week We third update last the gas smelter. in But fire a in in with sulfuric our on on This acid managed XX. where is used And experience we on production start-up. during a effective in the market did incident we from cleaning process. manner. progress that are challenging a team made our the and a project commissioning good
time safety and our fire a period Our short without protocols to effective extinguished personnel. were was injury the in of
assessments Start-up recovery small suspended the activities root-cause area that result as a presented project. temporarily and a relatively But and slide have the affected been review. as develop on you damage of we you the picture our plans. a see, can can incident while overall We've conduct
the in We replacement have times planning repairs and teams actively lead for equipment. engaged assessing
also We expect the on that the the outage. Indonesian by working our continuity concentrate be government programs, and of with insurance during covered exports repair we're cost will
Our smelter focused and team operations Papua restoring been impacted is in and mining expeditiously. operations on safely have not our
of positions On significant being in a to rights operating initiative. indicate our you forward which there. about secure continue be look producer results that see extension objective We X, our early us to of to very Slide achieving potential. leach long-term innovative to our fully excited value can a continue integrated We'll Indonesia
mine of last this annum operating low goal initiative million driving to a pounds copper scale per initial in position to targeted annum production. of the and the This a and at Just our initiative. value-enhancing enhance our XXX next initiatives, are of Ultimately, competitive value size now million XXX run investment Americas couple annum required, major costs, per annum incremental XXX our rate significantly growth of and per of low end the the we XXX new from years. was achieved capital with to million per will to reminder, is this that pounds pounds year achieve million of
can from inaccessible. targets analytics over leach injection solution heat have quarters, volumes to operational our retention growth You and that enhancing data and been in by the the previously identify from significant new slide, deploying see to areas incremental achieved direct tactics results to using initiatives the last and sensors were through stockpiles the on these several
XXX to rate to to during We the in year run XXX confidence build continue million million pounds per boosting XXXX.
to volumes Some on and surface injection by of that using in conventional by leach area the solution allow including in inaccessible under irrigation techniques, initiatives the of wells. helicopters the future, underway that targeted scaling are areas the now install expanding examples our previously our
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term, to these we projects leveraging in where our initiative leach opportunities near out pursuing and The brownfield best operations. initiative are assets very we're the aggressively. and just grow of talked opportunity All existing this we're is that established about
position at us expansion in investments Star position Bagdad automation, the employee our a at In we're the advancing and more housing is this operations. to in infrastructure and Safford when and We're expanded the to next efficiently for Lone to plans. straightforward be and and right. decision hurdles to that, project a We time expect our energy major have with option. we permitting also U.S., progress continue and conditions really execute the is to have tailings remote this on initiatives to opportunities And a monitoring expansion location year derisking don't make in
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conducting below to ore deep commence production We're our expect We're also We by MLZ body. getting exploration results. XXXX. encouraging
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these our that of time opportunities be focused to can and targeting we're By initiatives growth. on disciplined them optionality all continue approach building going over be enhance future that pursuing and to advancing really on for We're long-term focused value. in executed
copper, the outlook. see the is Our shows X This we quarter molybdenum for to sales our gold that show outlook, and similar Slide X-year updated. outlook which and guidance is very every and previous you'll of keep our sales
our have updated per unit also our cost, pound. $X.XX of our our is average start the the $X.XX estimates guidance of approximate net similar cash $X.XX per We expect pound. for pound of our estimate we below for year XXXX per at and to to July That
of by details information the We've got XX and some on this Slide materials. reference region
modeled XXXX Slide together and as cash show for results and cash ranging flow So and at we to and we margins prices various putting volumes move and and results projections modeled gold are EBITDA per at flows These our cost on flows pound. current and holding copper Slide projected per cash our estimates XX, X. using per and at $X and the volume with ounce projections flat $X,XXX $XX molybdenum to pound. cost $X XXXX from flat average of
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the $X at would that flows $X.X of product ranges billion right presented $X cash at at we've copper chart. copper. operating billion to Our sensitivities got be over these $X this We've on
to We're prices $X.XX to will benefit leveraged each pound $XXX to cash performance-based EBITDA. well that from approximating $XXX EBITDA. large-scale also reserves, note million in improving framework. fund about and highly gold copper equating You'll production, with $XXX with to flow change long-live is our price we're to million With each growth gold leveraged annual substantial cash under positioned in organic Freeport future returns in prices and generate annual gold payout per
forecast for billion. billion, the forecast capital to total this $X.X $X.X we slide, year capital expenditures estimate Capital showing current and about next our about for we're next XXXX for on expenditures XX, Moving are Slide to for next. expenditures year and at
the see the years, totaled are billion. X-year We'll timing You'll years, the between note this discretionary some that projects shifts $X.X period not over there changes been but over X X the have material.
capital cash This XX% available is with growth on projects, are projects funded reference new in financial the in we're projects distributed. investments a that category value-enhancing policy returns that under detailed that's reflects making They're provide good they're the our of Slide XX materials. not and our
on balance on and to reiterate the capital those disciplined focused to that Slide As be strong we we're financial a continue XX, going value centered opportunities returns investments in really build projects. finally, forward, sheet, value-enhancing in shareholders growth business. deploying in policy look we priorities to And our on cash in
a agencies, got to execute We've purchases very dividends to on all from solid flexibility will strong debt value We've distributed balance attractive that enable ratings very to framework our since projects. got through a us continue $X.X credit long-term metrics future sheet, investment-grade billion portfolio shareholders. share within this build targets implementing for to three and shareholders and
team is our everyone questions. your for committed We're execution And global cash invest to I driving like to call the growth on would Our providing your of to take attention. value. to very Thanks strong to and for in open returns plans, shareholders. now profitable focused
