Freeport-McMoRan Inc. operates as a natural resource company in the United States. The company’s portfolio of assets includes the Grasberg minerals district in Indonesia, a copper and gold deposit, significant mining operations in North and South America; the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC) in Africa; and significant U.S. oil and natural gas assets. As of December 31, 2015, the company’s estimated consolidated recoverable proven and probable mineral reserves totaled 99.5 billion pounds of copper, 27.1 million ounces of gold, 3.05 billion pounds of molybdenum, 271.2 million ounces of silver and 0.87 billion pounds of cobalt. As of December 31, 2015, the company owned interests in oil and gas leases covering 4.4 million gross acres (2.5 million acres net to its interest). In North America, the company operates seven copper mines – Morenci, Bagdad, Safford, Sierrita and Miami in Arizona, and Chino and Tyrone in New Mexico, and two molybdenum mines – Henderson and Climax in Colorado. In addition to copper, certain of its North America copper mines also produce molybdenum concentrate and silver. In South America, the company operates two copper mines – Cerro Verde in Peru and El Abra in Chile. In addition to copper, the Cerro Verde mine also produces molybdenum concentrate and silver. In Indonesia, the company’s subsidiary PT-FI operates the mines in the Grasberg minerals district. In addition to copper, the Grasberg minerals district also produces significant quantities of gold and silver. In Africa, its subsidiary Tenke Fungurume Mining S.A. (TFM) operates the mines in the Tenke minerals district. In addition to copper, the Tenke minerals district also produces cobalt hydroxide. The company’s portfolio of oil and gas assets include significant oil production facilities and growth potential in the Deepwater Gulf of Mexico (Deepwater GOM), established oil production onshore and offshore California, large onshore natural gas resources in the Haynesville shale in Louisiana, natural gas production from the Madden area in central Wyoming, and a position in the Inboard Lower Tertiary/Cretaceous natural gas trend onshore in South Louisiana. Products Copper Products The company produces copper concentrate, cathode, and continuous cast copper rod. Copper Concentrate: The company produces copper concentrate at six of its mines. In North America, copper concentrate is produced at the Morenci, Bagdad, Sierrita and Chino mines, and a significant portion is shipped to the company’s Miami smelter in Arizona. Copper concentrate is also produced at the Cerro Verde mine in Peru and the Grasberg minerals district in Indonesia. Copper Cathode: The company produces copper cathode at its electrolytic refinery located in El Paso, Texas. Solution extraction and electrowinning (SX/EW) cathode is produced from the Morenci, Bagdad, Safford, Sierrita, Miami, Chino and Tyrone mines in North America; from the Cerro Verde and El Abra mines in South America; and from the Tenke minerals district in Africa. Continuous Cast Copper Rod: The company manufactures continuous cast copper rod at its facilities in El Paso, Texas; Norwich, Connecticut; and Miami, Arizona, primarily using copper cathode produced at its North America copper mines. Mining Operations North America Morenci: The company owns an 85 percent undivided interest in Morenci, with the remaining 15 by Sumitomo Metal Mining Arizona, Inc. Morenci is an open-pit copper mining complex. Morenci is located in Greenlee County, Arizona. The Morenci mine is a porphyry copper deposit that has oxide, secondary sulfide and primary sulfide mineralization. The Morenci operation consists of two concentrators capable of milling 115,000 metric tons of ore per day, which produce copper and molybdenum concentrate; a 68,000 metric ton-per-day, 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
(FCX*:Mexico Stock Exchange)
333 North Central Avenue
Phoenix, AZ 85004
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