Freeport-McMoRan Inc. announced continued progress in growing copper and gold volumes by 30% to 40%, reducing net unit cash costs of copper by 25% to approximately $1.30 per pound and more than doubling cash flows by 2021 compared with 2019. The Company remains focused on increasing volumes from its underground orebodies in Papua, Indonesia. Quarter-to-date through March 5, 2020, production from the Grasberg Block Cave and Deep MLZ orebodies averaged approximately 35,000 metric tonnes of ore per day, 35% above the fourth quarter 2019 average and in line with expectations. The Lone Star project in Arizona is nearing completion and is expected to be commissioned during 2020. Innovation and technology initiatives to enhance productivity and unit cost performance are ongoing and achieving durable results.