Last $34.06 USD
Change Today -0.25 / -0.73%
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As of 8:04 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

333 North Central Avenue

Phoenix, AZ 85004

United States

Phone: 602-366-8100

Fax:

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 oil and natural gas assets in North America. As of December 31, 2013, the company’s consolidated recoverable proven and probable mineral reserves totaled 111.2 billion pounds of copper, 31.3 million ounces of gold, 3.26 billion pounds of molybdenum, 308.5 million ounces of silver, and 0.87 billion pounds of cobalt. Its estimated proved oil and natural gas reserves totaled 464 million barrels of oil equivalents (MMBOE). The company’s oil and gas operations include oil production facilities and growth potential in the Deepwater Gulf of Mexico (GOM), oil production from the onshore Eagle Ford shale play in Texas, oil production facilities onshore and offshore California, onshore natural gas resources in the Haynesville shale play in Louisiana, natural gas production from the Madden area in central Wyoming, and a position in the emerging shallow-water Inboard Lower Tertiary/Cretaceous natural gas trend on the Shelf of the GOM and 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 eight of its mines, of which PT-FI is the company’s major producer. In North America, copper concentrate is produced at its Morenci, Bagdad, Sierrita and Chino mines, and is shipped to its Miami smelter in Arizona. In South America, the company produces copper concentrate at its Cerro Verde, Candelaria, and Ojos del Salado mines. Copper Cathode: The company produces copper cathode at its electrolytic refinery located in El Paso, Texas, and at 10 of its mines. In North America, SX/EW cathode is produced from its Morenci, Bagdad, Safford, Sierrita, Miami, Chino and Tyrone mines; in South America from its Cerro Verde and El Abra mines; 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 In North America, the company has seven operating copper mines – Morenci, Bagdad, Safford, Sierrita and Miami in Arizona, and Chino and Tyrone in New Mexico; and two operating molybdenum mines – Henderson and Climax in Colorado. In addition to copper, certain of its North America copper mines also produce molybdenum concentrates. In the U.S., majority of the land occupied by the company’s copper and molybdenum mines, concentrators, SX/EW facilities, smelter, refinery, rod mills, molybdenum roasters, and processing facilities is owned by the company or is located on unpatented mining claims owned by it. Certain portions of its Bagdad, Sierrita, Miami, Chino, Tyrone, Henderson, and Climax operations are located on government-owned land and are operated under a Mine Plan of Operations or other use permit. Various federal and state permits or leases on government land are held for purposes incidental to mine operations. The company owns an 85 percent undivided interest in Morenci, with the remaining 15 percent owned by affiliates of Sumitomo Corporation. Each partner takes in kind its share of Morenci’s production. The Morenci mine is a porphyry copper deposit that has oxide and secondary sulfide mineralization, and primary sulfide mineralization. The Morenci operation consists of a 50,000 metric ton-per-day concentrator, which produces copper and molybdenum concentrates; 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. The Morenci operation's

 

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