Lawson Winder

key cost items for your business, are there other places where you feel there's some level of insulation

it looks like diesel sensitivity has actually increased. Can you maybe just walk through why that would happen

Can you maybe give us a sense of a more precise timing this year for the update?

Does that include PB1C, or is PB1C additional upside from that guidance?

is there any consideration for hardening the flow of the material, perhaps through cemented tailings or cemented backfill?

brownfield expansion at Miami, would make more sense? Or would it possibly make more sense to build a greenfield smelter

the potential just to ship refined copper from Indonesia to the U.S. and take advantage of that spread

does it make sense for Freeport to potentially be accumulating assets in the US today?

What do -- you think about the right copper price for that to work and what's the right IRR to justify that investment?

the M&A outlook. We've seen some activity from one of your peers already this week

Can I ask about the cost pressures? I mean, I think it's notable, the impressive unit cost results in Q1

Have the two entities had any further discussion on Fourmile and a potential mechanism for vending that into the joint venture? Where does that currently stand?

Just the CapEx as it sounds like there could be some potential upside through Red Chris and Merian. Could you just talk to those two projects and the update that we're going to be getting on those ...

how do you think about those 2 investment options? Is one preferred over the other?

How do you think about acting on asset or company acquisition opportunities? Is that something that's still within the wheelhouse of potential capital allocation?

Is there an appetite for further acquisitions at Newmont? And then further to that, is copper still viewed as a strategic metal for Newmont

what are you thinking now as a long-term sustainable level of gold production for that asset?

is that run rate production level of 275,000 to 325,000 ounces expected to be achieved in that year?

is $1,700 per ounce, the gold price at which that is sustainable? Or is that still a $1,400?

I just wanted to ask your thinking around the provision of one-year guidance. And so, I understood that you would consider maybe doing three years

Can you just speak to some of the strength and weakness that you're seeing in the underlying market for that business?

is there room to push that higher in 2026? And how are you thinking about that?

could you just speak to your current view on CapEx for 2027?

Are there areas of the business that you might be able to highlight today as places where you actually might consider some expansionary capital beyond '26?

Yesterday, Nucor's CSP was $10 higher. I mean was that factored in?

how would you characterize that in terms of product and region or segment upstream versus downstream?

What utilization rate is the asset now currently operating? And then just how do you see that trending for Q3 and Q4?

Could you speak to the preoperating start-up costs and the period-by-period outlook for those assets

how do you think about the split between higher margin, higher value-add product versus more commoditized product

Can you provide any color on the magnitude of what those start-up costs might look like this year

what are you guys penciling in for utilization at year-end 2025?

How are you guys thinking about the incremental impact from that business now going forward?

can you make a compelling case today for a material expansion there

do you see any other investment considerations that might constrain the extent to which the dividend could be increased this year

Where do you kinda see the upper limits of your comfort level

do you see the potential for Steel Dynamics to add additional aluminum rolling capacity

Can you give us a flavor of where there might be opportunities to improve the business through M and A

are you seeing this overhang dissipate at all now into Q3? And could this potentially mean a sales flow-through benefit into Q3

can you elaborate on what was driving the suppliers' decision to limit that supply

Are there any new projects in the pipeline that could possibly be green lit in 2025

could capital return accelerate then just given the setup for 2025