Profile: Freeport-McMoRan Inc (FCX.N)
23 Jan 2015
Freeport-McMoRan Inc., incorporated on November 10, 1987, is a natural resource company with an industry portfolio of mineral assets, oil and natural gas resources and a production profile. The Company’s portfolio of assets includes the Grasberg minerals district in Indonesia, copper and gold deposits, mining operations in North and South America, the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC) in Africa and oil and natural gas assets in North America. The Company’s mining operations are in North America, South America, Indonesia and Africa. The Company has seven operating copper mines in North America, including Morenci, Bagdad, Safford, Sierrita and Miami in Arizona, and Chino and Tyrone in New Mexico. The Company has four operating copper mines in South America, including Cerro Verde in Peru, and El Abra, Candelaria and Ojos del Salado in Chile. Indonesia mining includes PT-FI’s Grasberg minerals district. Africa mining includes TFM's Tenke minerals district.
North America Mining
The Company has seven operating copper mines in North America, including Morenci, Bagdad, Safford, Sierrita and Miami in Arizona, and Chino and Tyrone in New Mexico, and two operating molybdenum mines include Henderson and Climax in Colorado. In addition to copper, certain of its North America copper mines also produce molybdenum concentrates. The North America copper mines include open-pit mining, sulfide ore concentrating, leaching and solution extraction/electrowinning (SX/EW) operations. Molybdenum concentrate is also produced by its North America copper mines (Sierrita, Bagdad, Morenci and Chino).
South America Mining
The Company has four operating copper mines in South America, including Cerro Verde in Peru, and El Abra, Candelaria and Ojos del Salado in Chile. In addition to copper, the Cerro Verde mine also produces molybdenum concentrates, and the Candelaria and Ojos del Salado mines produce gold and silver. The COmpany owns a 53.56% interest in Cerro Verde, a 51% interest in El Abra, and an 80 %interest in the Candelaria and Ojos del Salado mining complex. South America mining includes open-pit and underground mining, sulfide ore concentrating, leaching and SX/EW operations.
Indonesia mining includes PT-FI’s Grasberg minerals district. The Company owns 90.64% of PT-FI, including 9.36% owned through its wholly owned subsidiary, PT Indocopper Investama. In addition to copper, the Grasberg minerals district also produces gold and silver. The Company owns 81.28% through its wholly owned subsidiary, PT Indocopper Investama. The Company also conducted exploration activities in Papua, Indonesia through two other entities: PT Nabire Bakti Mining (PTNBM) and PT Irja Eastern Minerals (Eastern Minerals).
Africa mining includes TFM's Tenke minerals district. The Company has 56% interest in the Tenke copper and cobalt mining concessions in the Katanga province of the DRC through its subsidiary TFM. The Tenke operation includes surface mining, leaching and SX/EW operations. Copper production from the Tenke minerals district is sold as copper cathode. In addition to copper, the Tenke minerals district produces cobalt hydroxide.
The Company has two wholly owned molybdenum mines in North America, including the Henderson underground mine and the Climax open-pit mine, both in Colorado. The Henderson and Climax mines produce molybdenum concentrates, which are processed into value-added molybdenum chemical products. The molybdenum concentrates produced at the Henderson and Climax mines, as well as from North and South America copper mines, are processed at its own conversion facilities.
Smelting & Refining
Atlantic Copper, the Company’s wholly owned subsidiary located in Spain, smelts and refines copper concentrates and markets refined copper and metals in slimes. As of December, 31, 2013, Atlantic Copper purchased 32% of its concentrate requirements from its South America mining operations, 16% from its Indonesia mining operations and 13% from its North America copper mines.
Oil and Gas Operations
The Company’s oil and gas operations provide exposure to markets with exploration and development opportunities. The portfolio of assets includes oil production facilities and growth in the Deepwater 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 and natural gas production from the Madden area in central Wyoming.
333 N Central Ave
PHOENIX AZ 85004-2121