Freeport McMoran Copper & Gold, Inc. history, profile and corporate video
Freeport McMoran Copper & Gold, Inc. engages as copper, gold and molybdenum mining company. The company operates through five segments: North America Copper Mines, South America Mining, Indonesia Mining, Africa Mining and Molybdenum Operations. The North America Copper Mines segment has seven operating copper mines in North America-Morenci, Sierrita, Bagdad, Safford and Miami in Arizona and Tyrone and Chino in New Mexico. Its operations include open-pit mining, sulfide ore concentrating, leaching and SX/EW operations. The South America segment has four operating copper mines-Cerro Verde in Peru and Candelaria, Ojos del Salado and El Abra in Chile. Its operations include open-pit and underground mining, sulfide ore concentrating, leaching and SX/EW operations. The Indonesia Mining segment includes PT Freeport Indonesia’s Grasberg minerals district. PT Freeport Indonesia produces copper concentrates, which contain significant quantities of gold and silver. The Africa Mining segment includes the Tenke Fungurume copper and cobalt mining concessions in the Katanga province of the DRC. The Tenke Fungurume mine includes open-pit mining, leaching and SX/EW operations. In addition to copper, its mine produces cobalt hydroxide. The Molybdenum segment is an integrated producer of molybdenum, with mining, sulfide ore concentrating, roasting and processing facilities that produce high-purity, molybdenum-based chemicals, molybdenum metal powder and metallurgical products. Freeport McMoran Copper & Gold was founded by James R. Moffett and B. M. Rankin, Jr. on November 10, 1987 and is headquartered in Phoenix, AZ.“
“Freeport-McMoRan Copper 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.
2002 Plains Exploration & Production Company established as an independent public company through a spin-off from Plains Resources 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. – adding a high quality portfolio of oil and gas assets to its global mining business.”
*Information from Forbes.com and Fcx.com
**Video published on YouTube by “AZ Big Media“