NYSE: FCX
Headquarters:
USA
Sector:
Copper
Government Ownership:
No State Ownership
Pre-tax Revenues (in BUSD):
14.8 (31/12/2016)
Number of employees:
30,000 (31/12/2016)
Number of workers
(employees + contract workers):
59,100 (31/12/2016)
Company-reported mining worker fatalities:
  • 2015 |
    Employees: 1Contractors: 2
  • 2016 |
    Workers: 6
Home countries, where the company is headquartered
Producing countries, where the company has mining operations
Mine sites selected for mine-site-level assessment

Summary Results

Freeport-McMoRan is one of the five strongest performing companies for Working Conditions, where its best results relate to occupational health and safety: the company has made a formal commitment to provide a safe and healthy working environment and shows evidence of systematic tracking of its performance on this issue.

Freeport-McMoRan is among the ten strongest performers for Community Wellbeing, where its best results relate to its policy and actions on human rights issues. The company has made a formal commitment to respect human rights, and although there is limited evidence of it conducting human rights due diligence or reporting on its management of human rights issues, it does stand out for its systematic tracking and reviewing of its performance on addressing potential human rights abuses related to its security management, and also shows evidence of taking measures to improve its performance on this issue.

Freeport-McMoRan’s overall results across all issues are limited by a lack of evidence of the company having adopted a lifecycle management approach to consider and address its social and environmental impacts throughout all phases of its operations. Freeport-McMoRan also shows little evidence of action on Economic Development. For example, no evidence was found of the company developing procurement opportunities for producing country suppliers beyond those around its mining operations.

Economic Development

0.148 / 1.000

Business Conduct

0.486 / 1.000

Lifecycle Management

0.113 / 1.000

Community Wellbeing

0.349 / 1.000

Working Conditions

0.617 / 1.000

Environmental Responsibility

0.405 / 1.000

The maximum value of 1.000 represents the aggregation of best scores achieved for all indicators in a given thematic area, taking into account all companies’ results. As the aggregate best score varies from one area to another, these charts cannot be used to compare company performances across different areas.

All company results are based on public domain data that have been sourced by RMI analysts or provided by companies. In the case of a few companies, very little information was available. It is important to note that a low score may only reflect a lack of relevant information in the company’s publicly available documentation.

Relative company performance

Commitment (11 indicators)

Action (41 indicators)

Effectiveness (21 indicators)

1.000 = aggregation of best scores for all indicators of this measurement area.

Indicator-by-indicator results

Economic Development

Selected Mine sites results

Mine sites individually assessed but not included
in the overall company score

Mine Site NameLocal Procurement (score /6.00)Local Employment (score /6.00)Community grievance mechanism (score /6.00)Workers grievance mechanism (score /6.00)Water quality and quantity (score /6.00)Biodiversity management (score /6.00)Mine site (score /6.00)
Cerro Verde0220211.17
El Abra0100210.67
Grasberg0600622.33

List of all mine sites

Mine Site NameAliasesCountryCompany's share (%)ProductsMining types
BagdadUSA100Copper, MolybdenumOpen-pit
Cerro VerdePeru57Copper, Molybdenum, SilverOpen-pit
ChinoUSA100Copper, MolybdenumOpen-pit
ClimaxUSA100MolybdenumOpen-pit
El AbraChile51CopperOpen-pit
GrasbergPTFIIndonesia90.64Copper, Gold, SilverOpen-pit, Underground
HendersonUSA100MolybdenumOpen-pit
MiamiUSA100CopperOpen-pit
MorenciUSA85Copper, MolybdenumOpen-pit
SaffordUSA100CopperOpen-pit
SierritaUSA100Copper, MolybdenumOpen-pit
TyroneUSA100CopperOpen-pit

Closed mine sites (controlled assets under care & maintenance, closure or post-closure management)

Mine Site NameAliasesCountryCompany's share (%)ProductsMining typesYear of closure
ContinentalCobreUSA100CopperOpen-pit, Underground1999
Cyprus TohonoCasa Grande, LakeshoreUSA100CopperOpen-pit2008
QueenBisbeeUSA100CopperUnderground1975
SierritaEsperanza, Twin ButtesUSA100Copper, MolybdenumOpen-pit2016

Assets sold during the assessment period

Mine Site NameAliasesCountryProductsMining types
Tenke FungurumeDRCCopper, CobaltOpen-pit

Main Shareholders

As of: 09/02/2018Shares (%)
Bank of America Merrill Lynch (US)0.33
Goldman Sachs & Company, Inc.0.3
Wells Fargo Advisors0.27
J.P. Morgan Securities LLC0.25
Susquehanna Financial Group, LLLP0.18
Raymond James & Associates, Inc.0.17
Citi Investment Research (US)0.16
Morgan Stanley & Co. LLC0.13
Credit Suisse Securities (USA) LLC0.11
RBC Capital Markets Wealth Management0.1
BNP Paribas Securities Corp. North America0.06
Deutsche Bank Securities Inc.0.05
Walleye Trading, LLC0.05
TD Securities, Inc.0.04
SG Americas Securities, L.L.C.0.03

Known Subsidiaries

As of: 31/12/2017Country
Climax Molybdenum CompanyUSA
Cyprus Amax Minerals CompanyUSA
Freeport-McMoRan Morenci Inc.USA
Freeport Minerals CorporationUSA
PT Freeport IndonesiaIndonesia
Sociedad Minera Cerro Verde S.A.A.Peru

Known Tax Jurisdictions

IndonesiaPeruUSA

Recent involvements in Investor/State investment disputes (since 2014)

No case

Disclaimer

The findings, conclusions and interpretations within this 2018 Responsible Mining Index (RMI) report do not necessarily represent the views of funders, trustees, and employees of the Responsible Mining Foundation, and others who participated in consultations and as advisors to the report.

This report is intended to be for information purposes only and is not intended as promotional material in any respect. The report is not intended to provide accounting, legal, tax or investment advice or recommendations, neither is it intended as an offer or solicitation for the purchase or sale of any financial instrument. In order to fully understand the methodology of the 2018 Responsible Mining Index, the respective sections on the website should be consulted.

The RMI seeks evidence of companies’ policies and practices on economic, environmental, social and governance (EESG) issues, but does not seek to measure the actual outcomes achieved on EESG issues. Results are based only on evidence sourced from the public domain or provided by companies as open data. Whilst this information is believed to be reliable, no guarantee can be given that it is accurate or complete, nor does it preclude the possibility that policies and practices may exist, but which the RMI has not been able to consider for purposes of assessment. In this respect, the results of the low-scoring companies do not necessarily reflect a lack of relevant policies and practices; as they may be due to a lack of public reporting by the companies, limitations in accessing information, and/or any difficulties in accessing the RMI company portal.

It should be noted that, prior to publication, all companies in the Index were invited to check the factual accuracy of the contextual data and evidence upon which the Index is based and to review company information in the RMI document library.

Although every effort has been made to verify the accuracy of translations, the English language version should be taken as the definitive version. The RMI reserves the right to publish corrigenda on its web page, and readers of the 2018 RMI report should consult the web page for corrections or clarifications https://www.responsibleminingindex.org.