Freeport-McMoRan says demand drivers for molybdenum are positive

Says supplies are limited. Says leach initiatives gaining traction. Says adds production at low incremental cost. Sees potential to build scale to approx. 800 mm lbs per annum. Says evaluating heated injections using renewable sources, additives and air injection. Sees near-term opportunities in leach initiatives and North America staffing and asset efficiency. Says sees medium-term opportunity at El Abra. Says making some investments at Bagdad. Says going to continue to be disciplined in approach.