Freeport-McMoRan, Inc.

Ladies and gentlemen, thank you for standing by. Welcome to the Freeport-McMoran Second Quarter Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer session. If you wish to ask a question during the Q&A session, press star 1 on your touchtone phone. If you require assistance during the conference, please press star 0. I would now like to turn the conference over to Ms. Kathleen Quirk, President. Please go ahead, ma'am.

Thank you and good morning everyone. Welcome to our conference call. Earlier this morning we reported our second quarter 2023 operating and financial results and a copy of the press release and slides are available on our website at fcx.com. Our call today is being broadcast live on the internet and anyone may listen to the call by accessing our website home page and clicking on the webcast link for the conference call. In addition to analysts and investors, The financial press has been invited to listen to today's call and a replay of the webcast will be available on our website later today. Before we begin our comments, we'd like to remind everyone that today's press release and certain of our comments on the call include forward-looking statements and actual results may differ materially. I'd like to refer everyone to the cautionary language included in our press release and presentation materials and to the risk factors described in our SEC filings. On the call with me today are Richard Ackerson, our Chairman of the Board and CEO, Marie Robertson, our Chief Financial Officer, Josh Olmstead, who leads our Americas operations, Mark Johnson, who leads our Indonesian operations, Corey Stevens, who heads up our Engineering, Construction, and Technical Services group, Mike Kendrick, who leads our molybdenum business, and Steve Higgins, our chief administrative officer. We'll start the call. Richard will make some opening remarks, and then I'll go through the prepared materials, our slide materials, and then we'll open the call to take your questions. So I'd like to turn the call over to Richard.

Thanks, Kathleen. Good morning, everybody. Thanks for joining us. The positive second quarter results and outlook we're reporting today reflect that our operational performance has been in line with our plans and our prior guidance. Our teams in Freeport's global operations are executing with focus, drive, and enthusiasm, all hallmarks of the Freeport culture. Fundamentals in the global copper market remain positive despite the frequently expressed concerns about a global economic slowdown and issues in China. Electrification is expanding with ongoing advances in alternative energy, electric vehicles, connectivity, and supporting infrastructure. Global copper inventories remain remarkably low, and this is notable in the context of the concerns about the global economy in China. The current demand for copper is much stronger than headline economic data. While market experts have significantly varying views about the short-term outlook for the economy and for the price of copper, there is a growing positive consensus on the medium and longer-term outlook based on projected demand growing faster than supply development. Freeport is extraordinarily well-situated in these circumstances. With our large-scale, currently producing assets, which were focused on executing the ongoing positive performance, and an attractive pipeline for future growth from the large-scale undeveloped reserves and resources already in our current asset base. Kathleen will now summarize the quarter and our outlook, and then I'll be back along with our team to answer any questions you may have.