Freeport-McMoRan Inc

Freeport-McMoRan Inc. (FCX) is a natural resources company with headquarters in Phoenix, Arizona. FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold, molybdenum, oil and natural gas. FCX is the world’s largest publicly traded copper producer, the world’s largest producer of molybdenum, and a significant gold, oil and natural gas producer.

FCX's portfolio of metal assets includes the Grasberg minerals district in Indonesia, one of the world's largest copper and gold deposits; significant mining operations in the Americas, including the large-scale Morenci minerals district in North America and the Cerro Verde operation in South America.

Following completion of the Deepwater Gulf of Mexico and Onshore California sales, FCX’s portfolio of oil and gas assets would include oil and natural gas production onshore in South Louisiana and on the Shelf of the GOM, oil production offshore California and natural gas production from the Madden area in Central Wyoming.

As of year-end 2015, our global workforce, comprised of employees and contractors, included approximately 75,000 members. FCX has a strong commitment to safety performance, environmental management and to the local communities where it operates. FCX is a founding member of the International Council on Mining and Metals (ICMM) and committed to implementation of the ICMM Sustainable Development Framework.

Our stock trades on the New York Stock Exchange under the ticker symbol “FCX'.

History

1912 Freeport Sulphur establishes the city of Freeport in Texas near its new sulphur mine.

1960 Freeport Sulphur confirms Dutch discovery of the Ertsberg copper and gold deposit in Indonesia.

1967 Freeport Indonesia, Incorporated, a newly formed subsidiary, drills and confirms the existence of a copper deposit known as the Ertsberg in Indonesia.

1969 McMoRan Exploration formed by Ken McWilliams (“Mc”), Jim Bob Moffett (“Mo”) and Mack Rankin (“Ran”).

1971 Freeport Sulphur changes name to Freeport Minerals Company as a result of widened activities as a diversified minerals producer.

1981 McMoRan Exploration combined McMoRan Oil & Gas with Freeport Minerals Company, with each entity becoming a subsidiary of the newly formed Freeport-McMoRan Inc. The combined company becomes a major independent oil and gas producer with interests in agricultural minerals – sulphur and phosphoric acid – and in gold, copper, silver and uranium.

1988 Grasberg copper-gold deposit discovered in Indonesia. Freeport-McMoRan Copper Co. is created and listed on the NYSE as FCX.

1991 Freeport-McMoRan Copper Co. changes name to Freeport-McMoRan Copper & Gold Inc. to reflect significant growth in gold reserves.

1995 Freeport-McMoRan Copper & Gold Inc. established as an independent public company through a spin-off from Freeport-McMoRan Inc.

1998 McMoRan Exploration Co. formed with the merger of McMoRan Oil & Gas Company and Freeport-McMoRan Sulphur Co., Inc.

2007 FCX completed the acquisition of Phelps Dodge Corporation, a fully integrated producer of copper and molybdenum with mines in North and South America, and several development projects, including Tenke Fungurume in the Democratic Republic of Congo (DRC).

2013 FCX acquires Plains Exploration & Production Company and McMoRan Exploration Co.

2014 Freeport-McMoRan Copper & Gold Inc. changes name to 
Freeport-McMoRan Inc. to simplify the Company’s existing name and 
reflect the Company’s expanded portfolio of assets.

 Our Industry Standing

The top 10 producers of copper comprise approximately half of total worldwide mined copper production. We currently rank first among those producers, with approximately nine percent of total worldwide estimated mined copper production. Our competitive position is based on the size, quality and grade of our ore bodies and our ability to manage costs compared with other producers. We have a diverse portfolio of mining operations with varying ore grades and cost structures. Our costs are driven by the location, grade and nature of our ore bodies and the level of input costs, including energy, labor and equipment.

FCX is a member of the S&P 500 Stock Index and ranks 175th in the Fortune 500.

Our Leadership

Our Board of Directors is comprised of eight members including seven independent directors who possess a diverse range of perspectives and experience in the mining industry, business, finance, economics, accounting and public affairs. One of our independent directors, Gerald J. Ford, serves as non-executive Chairman of the Board and Richard C. Adkerson serves as Vice Chairman, President and Chief Executive Officer.