Freeport-McMoRan logo

Freeport-McMoRan(FCX)

Leader#1 in Manufacturing & Industry

Phoenix AZ copper/gold mining leader (NYSE: FCX) ~$25.4B FY2024 revenue; Grasberg world's largest gold mine, 4.2B lbs copper, EV/AI demand structural tailwind, Kathleen Quirk CEO 2024 competing with BHP and Glencore.

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Manufacturing & IndustryPhotomask MaterialsFCXWebsiteUpdated March 2026

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Company Overview

About Freeport-McMoRan

Freeport-McMoRan Inc. is a Phoenix, Arizona-based mining company — publicly traded on the New York Stock Exchange (NYSE: FCX) as an S&P 500 Materials component — operating copper, gold, and molybdenum mines across North America, South America, and Indonesia, including the Grasberg mine complex in Papua, Indonesia (the world's largest gold mine and second-largest copper mine), the Cerro Verde mine in Arequipa, Peru, the Morenci mine in Arizona, and the El Abra mine in Chile through approximately 27,000 employees. In fiscal year 2024, Freeport-McMoRan reported revenues of approximately $25.4 billion, with copper representing the primary revenue driver (producing 4.2 billion pounds of copper at an average realized price of approximately $4.20/lb — the highest sustained copper price since 2011 as AI infrastructure, energy transition, and EV adoption created structural demand growth expectations). CEO Kathleen Quirk assumed the CEO role in June 2024 following Richard Adkerson's retirement after 24 years leading Freeport through the privatization of Freeport-McMoRan from its 2007 Phelps Dodge acquisition through the commodity supercycle, oil price-induced near-bankruptcy in 2016, and recovery to peak copper demand leadership. Freeport's Grasberg Complex (producing 1.7 billion pounds of copper and 1.6 million troy ounces of gold annually at full production) represents the defining asset — transitioning from the Grasberg open pit (the world's largest truck-shovel copper operation, mining ore since the 1980s, reaching pit depletion) to the underground Big Gossan, Grasberg Block Cave, and Deep MLZ block caving mines that provide 40+ years of underground copper production from the same ore body.

Business Model & Competitive Advantage

Freeport-McMoRan's copper and gold mining model creates competitive advantages through the ownership of Tier 1 copper deposits — massive, high-grade ore bodies with 50-100 year mine lives that cannot be replicated by greenfield discovery because major porphyry copper deposits are geologically rare (only 30-40 discovered globally with 5+ billion pound copper resource) and require 10-15 years of permitting, construction, and ramp-up to produce first copper. The Grasberg ore body's extraordinary gold co-product credit (gold and silver byproduct revenues covering 60-70% of Grasberg's production cost at $2,000/oz gold prices — making Grasberg copper production effectively zero-cost on a cash basis in high gold price environments) creates structural cost advantage versus pure copper deposits without precious metal co-product credits. Freeport's US copper operation (Morenci, Miami, Bagdad, Sierrita mines in Arizona — combined 1 billion pounds per year production) benefits from US domestic copper premium as electric vehicle manufacturers and data center construction companies pay premiums for US-sourced copper over Chilean or Peruvian imports in supply chain resilience programs.

Competitive Landscape 2025–2026

In 2025, Freeport-McMoRan competes in global copper production against BHP (ASX: BHP, Escondida — world's largest copper mine in Chile), Glencore (LON: GLEN, Collahuasi — second-largest Chilean copper, Congo cobalt), and Codelco (Chilean state copper company — Chuquicamata, El Teniente mines) for copper price realized on production, long-term copper supply agreements with automakers and electronics manufacturers, and investor capital allocation to copper mining exposure. The copper demand structural growth narrative — each EV containing 3-4x more copper than an ICE vehicle (180 lbs vs. 50 lbs), AI data center infrastructure requiring copper wiring and bus bars, offshore wind farms requiring submarine copper cable — supports copper price expectations of $4.50-5.00/lb by 2025-2026 as supply growth from greenfield projects (constrained by permitting, financing, and labor challenges) falls short of demand growth. Freeport's Indonesia smelter (PT Smelting — refining Grasberg copper concentrate into copper cathode in Indonesia, satisfying Indonesian government local processing requirements) maintains Grasberg export licenses that depend on continued compliance with Indonesia's downstreaming regulations. The 2025 strategy focuses on Grasberg underground production ramp (Grasberg Block Cave targeting 700+ thousand tonnes/day ore throughput), US copper operations productivity, and copper leach optimization at Morenci using additional sulfuric acid capacity.

Founded
1912
Headquarters
Freeport, Texas
Revenue
$25.4B
Curated content • Fact-checked and verified

The Freeport-McMoRan Story

Founded in 1912
Freeport, Texas
Founded by Eric Pierson Swenson

Founders

Eric Pierson Swenson

Recent Activity

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Bagdad Autonomous Haulage Passes 50-million-Ton Mark

Bagdad Autonomous Haulage Passes 50-million-Ton Mark mboyle Wed, 05/13/2026 - 13:17 Post Image May 13, 2026 - Bagdad’s driverless fleet has surpassed 50 million tons of material moved, marking a major milestone for the company’s first full-scale autonomous haulage operation. The achievement culminates an effort that began in 2023 when the project was announced. Bagdad teams worked through real-world operational challenges, refined processes and adapted systems as autonomy became part of daily production. All 33 autonomous haul trucks were fully in production by October, and the 50-million-ton mark was passed this spring. “This milestone belongs to the people who made autonomy part of how we operate every day,” said Jeff Monteith, General Manager-Bagdad. “Integrating new technology at this scale requires adaptability, coordination and trust across teams and our employees have delivered.” Reaching 50 million tons was not simply a matter of flipping on a technological switch. It required

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Around the Company in Pictures: El Paso Continues Earth Day STEM Tradition ‘Our Power, Our Planet’

Around the Company in Pictures: El Paso Continues Earth Day STEM Tradition ‘Our Power, Our Planet’ mboyle Mon, 05/11/2026 - 12:57 Post Image May 11, 2026 - Freeport’s El Paso operation recently marked Earth Day by bringing hands-on science, technology, engineering and math (STEM) curriculum to area students. The site partnered with the local Ramona STEM Academy to host the annual event, extending an effort that has lasted more than 15 years. Built around the theme “Our Power, Our Planet,” the event brought together Freeport employees and more than 20 community partners to deliver a full day of hands-on STEM activities at the school. Hundreds of students participated, rotating through interactive exhibits, demonstrations and classroom activities. Rita Lloyd-Mills, Manager, Social Performance-Discontinued and Downstream Operations, said the event would not have been possible without the work of Freeport employees and other volunteers, who supported stations and engaged with students thro

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Quarterly Report filed 2026-05-08

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El Abra Helps Bring Historic Photo Exhibit to Life

El Abra Helps Bring Historic Photo Exhibit to Life mboyle Tue, 05/05/2026 - 10:29 Post Image May 5, 2026 - With longstanding support from Freeport’s El Abra operation in Chile, a photographic exhibit documenting the history and culture of the Calama region has opened at the Museum of Natural and Cultural History of the Atacama Desert. The Photographic Archive of the Desert features historical photographs dating to as early as 1900 depicting daily life in Calama and Alto El Loa near the El Abra operation. The exhibit is the culmination of several El Abra-supported projects that enabled the conservation, restoration and dissemination of hundreds of historical photographs and negatives now available for public viewing. The company also has financed the publication of two books featuring part of the photographic collection. “We believe responsible mining also means contributing to the preservation of the cultural heritage of the communities around us,” said Gonzalo Larroulet, Sustainabilit

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Proxy Statement filed 2026-04-23

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Material Event filed 2026-04-23

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Cerro Verde Receives U.S.–Peru Bicentennial Award for Flood Response

Cerro Verde Receives U.S.–Peru Bicentennial Award for Flood Response mboyle Wed, 04/15/2026 - 09:54 Post Image April 15, 2026 – Freeport's Cerro Verde operation has received diplomatic recognition for its response to recent flooding in Peru’s Arequipa region, with officials highlighting its support for local communities. U.S. Ambassador Bernardo Navarro recently presented Cerro Verde with the U.S.–Peru Bicentennial Award for its emergency response earlier this year. Cerro Verde was commended for its rapid response, coordinated logistics and assistance to affected communities during the flooding in February and March. The award commemorates 200 years of diplomatic relations between the United States and Peru, recognizing the shared values that have defined their relationship since its establishment in 1826. It is given to partners that directly contribute to a safer, stronger and more prosperous relationship between the two nations. “Cerro Verde has a long tradition of decades of corpor

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Cerro Verde Responds to Devastating Arequipa Floods

Cerro Verde Responds to Devastating Arequipa Floods mboyle Mon, 03/30/2026 - 10:10 Post Image March 30, 2026 - Team members at the company’s Cerro Verde operation in Peru responded quickly after severe rainstorms hit the region, providing heavy equipment, tools and food to support recovery efforts. Heavy rains affected Arequipa near the mine site from mid-February to March, with the most intense storms in late February. A particularly severe storm lasting more than an hour overwhelmed Arequipa’s flood control system, flooding the streets. Weeks of prior rainfall had already saturated the ground, contributing to flooding and mudslides. By the time the storms finally subsided, the impact was devastating—six people had died, approximately 100 families were forced from their homes and more than 600 houses sustained damage. Neighborhoods were blanketed with mud, rocks and debris. In response, Cerro Verde activated its assistance plan, delivering supplies to address urgent needs, coordinatin

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Morenci Employee Achieves 50 Years with Perfect Safety Record

Morenci Employee Achieves 50 Years with Perfect Safety Record mboyle Tue, 03/24/2026 - 10:06 Post Image March 24, 2026 - Working more than 50 years at a single mine site is rare. Achieving that milestone without a single safety incident is even more remarkable. Frank Delacruz, Support Equipment Operator II at the company’s Morenci site in Arizona, has done exactly that, building a career defined by consistency, care for others and personal responsibility. Throughout his career, Delacruz has demonstrated that safety excellence is not the result of a single action, but of thousands of everyday decisions. He attributes his safety record to following procedures, staying alert to changing and looking out for those around him. “Reaching 50 years of safe service with Freeport at Morenci is both humbling and deeply meaningful,” Delacruz said. “What began as a job became a career and a second home, grounded in a shared commitment to looking out for one another and returning home safely every da

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Advanced Shovels Debut at Safford

Advanced Shovels Debut at Safford mboyle Mon, 03/02/2026 - 09:03 Post Image March 2, 2026 - The heavy equipment fleet at the company’s Safford, Arizona, site recently received some much-anticipated reinforcement as the site added two new larger shovels. The massive scoopers – P&H 4100XPC models - are Safford's first brand-new shovels, breaking a practice of refurbishing used machines from other Freeport properties. But these are not merely newer, cleaner, shinier versions of what’s already on the site. “One of the biggest differences with these new models is their AC (alternating-current) motors,” said Mike Guttierez, Supervisor, Mine Maintenance-Safford. “Our older 4100s have DC (direct-current) motors.” The AC system affords tighter shovel performance, resulting in improved operational efficiency. “AC motors provide smoother and more precise torque control than the DC machines,” said Michael Ryan, Supervisor, Technical/Electrical-Safford. “They are noticeably faster, and the cont

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Instrumentation and First Pounds Placed on “Perfect Stockpile” in New Mexico

Instrumentation and First Pounds Placed on “Perfect Stockpile” in New Mexico mboyle Thu, 02/26/2026 - 10:50 Post Image February 26, 2026 - The team at Freeport’s Chino operation in New Mexico recently reached two important milestones in its effort to build the company’s most advanced leach stockpile to date. In January, headline instrumentation was installed at the North Lampbright Leach Stockpile, marking a critical step forward. Just days later, the new stockpile – known as the “perfect stockpile” – received its first leachable pounds. North Lampbright brings together years of operational insight into a design focused on stability, creating and maintaining optimal conditions, and providing early visibility into leaching performance. To support this objective, the newly installed instrumentation includes geomechanical piezo and pressure cells to monitor solution and thermal conditions within the stockpile, along with oxygen and temperature sensors, pregnant leach solution samplers and

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Climax Makes History with 1,000-foot Directional Drill Through Rock

Climax Makes History with 1,000-foot Directional Drill Through Rock mboyle Wed, 02/25/2026 - 10:38 Post Image February 25, 2026 - Freeport’s Climax operation recently completed a more than 1,000-foot directional drill through hard rock, marking an important step toward safer, permanent pit dewatering and future mine planning. For years, crews at the Colorado mine faced brutal weather and difficult access to reach pumps nearly 1,000 feet down in the pit to keep the generators fueled and the water flowing. Electrification of the dewatering process was identified as a solution, inspiring the team at Climax to get creative. “Directional drilling in hard rock is basically unheard of,” said Alyssa Smith, Senior Geologist-Climax. “We were essentially trying to thread a needle deep underground. It required constant checks, constant adjustments and trusting the process.” Directional drilling is a drilling method that allows a hole to be steered underground rather than drilled straight down. The

Company Timeline

Major milestones in Freeport-McMoRan's journey

10
Total Events
2
Acquisitions

Leadership Team

Meet the leaders behind Freeport-McMoRan

Kathleen L. Quirk

President & Chief Executive Officer

Kathleen Quirk became President and CEO in June 2024, culminating a 35-year career with Freeport-McMoRan that began in 1989. She served as CFO from 2003 to 2021, during which she was named Best CFO in Metals and Mining by Institutional Investor Research on numerous occasions. As President since 2021 and Board member since 2023, she has been instrumental in FCX's strategic planning and execution, earning recognition for her track record of value creation and proven leadership across all stakeholder groups.

Richard C. Adkerson

Chairman of the Board

Richard Adkerson served as CEO of Freeport-McMoRan from 2003 to June 2024 and continues as Chairman of the Board. Under his two-decade leadership, FCX completed transformative acquisitions including Phelps Dodge in 2007 and navigated the company through commodity cycles, operational challenges, and strategic restructuring to emerge as the world's leading publicly traded copper producer.

Maree Robertson

Senior Vice President & Chief Financial Officer

Maree Robertson was appointed CFO of Freeport-McMoRan, bringing extensive financial leadership experience to oversee the company's financial operations, reporting, capital allocation, and strategic financial planning across global operations generating over $25 billion in annual revenue.

Joshua F. Olmsted

President & Chief Operating Officer - Americas

Joshua Olmsted serves as President and COO for Americas operations, overseeing seven open-pit copper mines across Arizona and New Mexico, two molybdenum mines in Colorado, and operations in South America including Cerro Verde in Peru and El Abra in Chile.

Mark J. Johnson

President & Chief Operating Officer - Indonesian Operations

Mark Johnson leads operations at the Grasberg mine complex in Indonesia, one of the world's largest copper and gold deposits. He manages PT Freeport Indonesia's operations under the special permit extending through 2041, overseeing production, community relations, and environmental stewardship.

Key Differentiators

Market Leader

Freeport-McMoRan is recognized as a market leader in the Mining & Materials sector, demonstrating strong industry presence and customer trust.

Enterprise Scale

With $25.4B in revenue, Freeport-McMoRan operates at enterprise scale with proven market validation.

Top 3 Ranked

Ranked #1 in the Mining & Materials category, consistently recognized for excellence.

Frequently Asked Questions

Estimated Visibility Trend (Beta)

Simulated 8-week rolling score

91
↓ Declining

Based on estimated brand signals. Historical tracking coming soon.

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