Climax Mine - Leadville Today

Cautionary StatementThis tour companion contains forward-looking statements in which we discuss factors we believe may affect our future performance in the future.Forward-looking statements are all statements other than statements of historical facts, such as statements regarding projected ore grades andmilling rates, projected production and sales volumes, projected unit net cash costs, projected capital expenditures, exploration efforts and results,mine production and development plans, and the impact of commodity price price changes. We caution readers that forward-looking statementsare not guarantees of future performance and our actual results may differ materially from those anticipated, projected or assumed in theforward-looking statements. Important factors that can cause our actual results to differ from results anticipated in the forward-lookingstatements include commodity prices, mine sequencing, production rates, industry risks, regulatory changes, political risks,, weather- and climaterelatedrisks, labor relations, environmental risks, litigation results, and other factors described in FCX's annual report on Form 10-K for the yearended December 31, 2011, filed with the Securities and Exchange Commission (SEC), as updated by FCX’s subsequent filings with the SEC.We caution readers that many of the assumptions on which our forward-looking statements are based are likely to change after our forwardlookingstatements are made, including for example commodity prices, which we cannot control, and production volumes and costs, some aspectsof 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.In its filings with the SEC, FCX discloses recoverable proven and probable reserves calculated in accordance with Industry Guide 7 as required bythe Securities and Exchange Act of 1934. In this tour companion we refer to potential reserve additions and use phrases such as “mineralizedmaterial.” Potential reserve additions will not qualify as reserves until sufficient mapping, drilling, sampling, and assaying are completed anduntil comprehensive engineering studies establish their economic feasibility. Accordingly, no assurance can be given that any potential reserveadditions will become recoverable proven or probable reserves. We urge you to consider closely the disclosure of recoverable proven and probablereserves in FCX’s Annual Report on Form 10-K for the year ended December 31, 2011, as updated by FCX’s subsequent filings with the SEC.