Freeport-McMoRan Inc.

About

Freeport-McMoRan Inc. (“FCX”), formerly known as Freeport-McMoRan Copper & Gold Inc., was established in 1988 following the discovery of the Grasberg copper and gold deposit in Papua, Indonesia. The company transformed into a dynamic industry leader after acquiring Phelps Dodge in 2007, combining the assets and technical teams of both companies. FCX’s portfolio of mining assets has been developed and acquired by several predecessor companies, making it difficult to replicate today.

Verified company data

Fully diluted shares

449

Mineral resource

FCX has significant undeveloped reserves and resources in the U.S. and a portfolio of potential long-term development projects. Future investments are dependent on market conditions and will be undertaken based on the results of economic and technical feasibility studies, including the incorporation of innovation initiatives to reduce capital intensity.

Projects

["MORUCI MINE LOCATED IN ARIZONA\n\nDescription\nMorenci is an open-pit copper mining complex that has been in continuous operation since 1939 and previously was mined through underground workings.\n\nDid you know?\nThe Morenci mill expansion project, which achieved full rates in second-quarter 2015, expanded mill capacity from 50,000 metric tons of ore per day to approximately 115,000 metric tons of ore per day, which results in incremental annual production of approximately 225 million pounds of copper and an improvement in Morenci's cost structure.\n\nLocation\nGreenlee County, Arizona, approximately 50 miles northeast of Safford on U.S. Highway 191.\n\nOres\nThe Morenci mine is a porphyry copper deposit that has oxide, secondary sulfide mineralization, and primary sulfide mineralization. The predominant oxide copper mineral is chrysocolla. Chalcocite is the most important secondary copper sulfide mineral and chalcopyrite the dominant primary copper sulfide.\n\nProcesses and facilities\nThe Morenci operation consists of two concentrators capable of milling 132,000 metric tons of ore per day (mtd), which produce copper and molybdenum concentrate; a 72,500 mtd, crushed-ore leach pad and stacking system; a low-grade run-of-mine (ROM) leaching system; four SX plants; and three EW tank houses that produce copper cathode. Total EW tank house capacity is approximately 900 million pounds of copper per year. Morenci’s available mining fleet consists of one hundred and forty-one 235-metric ton haul trucks and three 372 metric-ton haul trucks loaded by 13 shovels with bucket sizes ranging from 47 to 59 cubic meters, which are capable of moving an average of 803,000 metric tons of material per day.\n\nBackground\nPhelps Dodge & Company invested $50,000 in the property in 1881, marking the New York mercantile’s first venture into mining. Through acquisition, Phelps Dodge & Company consolidated all mining operations in the district by 1921.\n\nInitially underground, Morenci transitioned to open-pit mining beginning in 1937. The operation nearly doubled its production capacity during World War II at the urging of the U.S. government to meet wartime needs. Morenci’s first SX/EW plant was commissioned in 1987. Once home to two smelters, the last smelter ceased operation in 1984. Both have been demolished and reclaimed.\n\nOwnership\n72% - Freeport-McMoRan Inc. (undivided interest); 15% - Sumitomo Metal Mining Arizona Inc. (SMMAz is owned 80% by Sumitomo Metal Mining Co. Ltd. (SMM) and 20% by Sumitomo Corporation); and 13% - SMM Morenci Inc. (fully owned by SMM)\n\nVIDEO\nMorenci: Deep Roots, Broad Horizons\nArizona Copper Mining\nMolybdenum Operations\n\nADDITIONAL INFORMATION\nImpact of Morenci Operations on the Economy of Greenlee County and Arizona(0.68 MB)\nMorenci: A Guide To Tailings Storage Facilities - Important safety information for neighbors and community.(1.98 MB)\nTailings Dust Management at Morenci(0.53 MB)\nTechnical Report Summary of Mineral Reserves and Mineral Resources – Morenci Mine(4.23 MB)"]

Leadership

Richard C. Adkerson (Chairman of the Board, Chairman of the Board of Freeport-McMoRan Inc. with extensive experience in accounting and management, previously served as CEO.), Dustan E. McCoy (Lead Independent Director, Retired Chairman and CEO of Brunswick Corporation with over 20 years in the natural resources industry.), Kathleen L. Quirk (President and Chief Executive Officer, Joined Freeport in 1989, previously Chief Financial Officer and recognized as Best CFO in Metals and Mining.), David P. Abney (Director, Retired Chairman and CEO of UPS with a 46-year career in logistics and supply chain management.), Marcela E. Donadio (Director, Retired Partner of Ernst & Young with expertise in oil and gas sector leadership.), Hugh Grant (Director, Retired Chairman and CEO of Monsanto Company with a distinguished 37-year career in agriculture.), Lydia H. Kennard (Director, President and CEO of KDG Construction Consulting with over 40 years in aviation and construction management.), Ryan M. Lance (Director, Executive Chairman of ConocoPhillips with over 40 years in the oil and gas industry.), Sara Grootwassink Lewis (Director, Founder of Lewis Corporate Advisors with significant experience in corporate finance and capital markets.), John J. Stephens (Director, Retired CFO of AT&T with extensive experience in telecommunications finance.), Frances Fragos Townsend (Director, Independent consultant with a background in corporate affairs and national security.)

Verified data last updated: 2026-09-18