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About
Freeport-McMoRan, Inc. engages in the mining of copper, gold, and molybdenum. It operates through the following segments: Morenci; Cerro Verde; Grasberg; Molybdenum Mines; Rod & Refining; Atlantic Copper Smelting & Refining; Other Mining & Eliminations; U.S. Oil & Gas Operations; and Corporate, Other & Eliminations. The Morenci segment is located in Greenlee County, Arizona, which deals with the porphyry copper deposit that has oxide, secondary sulfide, and primary sulfide mineralization. The Cerro Verde segment is located in the southwest of Arequipa, Peru, which consists of porphyry copper deposit that has oxide, secondary sulfide, and primary sulfide mineralization. The Grasberg segment is located in the Sudirman Mountain Range in the province of Papua, Indonesia, which comprises of copper and gold deposits. The Molybdenum Mine segment operates the Henderson underground mine and the Climax open-pit mine, both in Colorado. The Rod & Refining segment consists of copper conversion facilities located in North America, and includes a refinery, three rod mills, and a specialty copper products facility. The Atlantic Copper Smelting & Refining smelts and refines copper concentrate and markets refined copper and precious metals in slimes. The Other Mining & Eliminations comprises of Miami smelter, Freeport Cobalt, molybdenum conversion facilities in the U.S. and Europe, four non-operating copper mines in North America and other mining support entities. The U.S. Oil & Gas Operations segment consists of oil and natural gas production onshore in South Louisiana and on the GOM shelf, oil production offshore California, and natural gas production from the Madden area in central Wyoming. The Corporate, Other & Eliminations segment composes of international oil and gas capital expenditures primarily related to the Morocco oil and gas properties. The company was founded by James R. Moffett on November 10, 1987 and is headquartered in Phoenix, AZ. | |||
Description
Freeport-McMoRan Inc. engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. It primarily explores for copper concentrate, copper cathode, copper rod, gold, molybdenum, silver, and other metals, as well as oil and gas. The company's portfolio of assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde and El Abra mines in South America. It also operates a portfolio of oil and gas assets comprising oil and natural gas production onshore in South Louisiana; and on the GOM Shelf and oil production offshore California, as well as natural gas production from the Madden area in central Wyoming. As of December 31, 2016, the company's estimated consolidated recoverable proven and probable mineral reserves totaled 86.8 billion pounds of copper, 26.1 million ounces of gold, and 2.95 billion pounds of molybdenum, as well as estimated proved developed oil and natural gas reserves totaled 18 million barrels of oil equivalents. The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. Freeport-McMoRan Inc. was founded in 1987 and is headquartered in Phoenix, Arizona. |