Freeport-McMoRan

Freeport-McMoRan Inc. (FCX) stands as one of the world's premier mining companies and the largest publicly traded copper producer globally, operating geographically diverse, long-lived assets with significant proven and probable reserves of copper, gold, and molybdenum. Headquartered in Phoenix, Arizona, the company manages extensive mining operations across North America, South America, and Indonesia, producing essential metals that power the global energy transition, infrastructure development, and technological advancement. With revenues of $25.45 billion in 2024 and a workforce of 28,500 employees, Freeport-McMoRan plays a critical role in supplying responsibly produced copper to meet surging demand from electric vehicles, renewable energy systems, and artificial intelligence infrastructure.

The company's operational footprint spans three major geographic regions, each contributing to its position as a global mining leader. In North America, FCX operates seven open-pit copper mines across Arizona and New Mexico, including the flagship Morenci mine, along with two molybdenum mines in Colorado. South American operations include the Cerro Verde mine in Peru (55.08% owned) and the El Abra complex in Chile (51% owned). The crown jewel of FCX's portfolio is the Grasberg mine in Indonesia, one of the world's largest copper and gold deposits, where the company maintains a 48.76% interest and operational management through 2041. This geographic diversification provides operational resilience, access to world-class ore bodies, and exposure to diverse regulatory and market environments.

Freeport-McMoRan's strategic importance has grown substantially as global electrification and decarbonization efforts accelerate. Copper, the company's primary product, is essential for electric vehicles (which require 83 kg of copper compared to 23 kg in traditional vehicles), renewable energy infrastructure including wind turbines and solar panels, and expanding electrical grids. The company sold approximately 1.26 million metric tons of copper in 2024, positioning it at the forefront of the energy transition. FCX has demonstrated its commitment to sustainable operations through pioneering initiatives like the $80 million Department of Energy-funded project to use geothermal energy for copper leaching at Morenci and Safford, potentially increasing copper recovery by 25 million pounds annually while reducing emissions.

Under the leadership of President and CEO Kathleen L. Quirk, who assumed the role in June 2024 after 35 years with the company, Freeport-McMoRan continues to strengthen its position through operational excellence, technological innovation, and sustainability leadership. The company achieved record financial performance in 2024 with $10 billion in EBITDA (up 14% year-over-year) and operating cash flows exceeding $7 billion (up 35%). With copper prices reaching record highs of $5.11 per pound in May 2024 and structural demand growth driven by global electrification, FCX is strategically positioned to capitalize on the multi-decade copper supercycle while advancing its 2030 climate targets and 2050 net zero aspiration, demonstrating that responsible resource development and environmental stewardship can advance together.