# Freeport-McMoRan Inc.

Freeport-McMoRan Inc. is a Metals and Mining based in Phoenix, United States.

## Overview

- **Organization type:** Metals and Mining
- **Headquarters:** Phoenix, United States
- **Region:** North America
- **Address:** Phoenix, AZ, United States
- **Founded:** 1912
- **Assets under management:** Undisclosed
- **Website:** fcx.com
- **LinkedIn:** https://www.linkedin.com/company/freeport-mcmoran

## Regulatory record

- **Reports private funds:** No

## About

Freeport-McMoRan was founded in 1912 as the Freeport Sulphur Company, evolving into a diversified natural resource firm before becoming the world's largest publicly held copper producer. Richard Adkerson, who joined as president in 1999, led the acquisition of Phelps Dodge in 2007 and later the ill-fated oil-and-gas purchases in 2013 that were reversed after the commodities downturn. The company operates across the full mining lifecycle — from exploration and development to extraction and refining — with core copper assets including the Grasberg mine in Indonesia, the largest gold reserve and second-largest copper reserve in the world. Its portfolio also includes molybdenum production and, historically, oil and gas (divested by 2016). Freeport's strategy focuses on cost reduction, operational efficiency, and expanding copper output to meet demand from electrification and renewable energy infrastructure. Headquartered in Phoenix, the company maintains offices in Baltimore, Melbourne, Tokyo, and New York, employing over 25,000 people globally. In 2023, Freeport produced 4.1 billion pounds of copper (per the firm's annual report, 2023). The company also operates a copper cathode facility in Miami, Arizona, and has announced expansions at the Bagdad mine in Arizona to increase mill capacity. A structural differentiator is Freeport's contract with the Indonesian government for Grasberg — a unique profit-sharing and royalty arrangement that gives it operational control in a politically sensitive jurisdiction. The company is also a bellwether for global copper markets, with its production costs and output used as industry benchmarks.

## Sectors

- Natural Resources
- Industrial Tech
- Infrastructure

## Offices

- Baltimore, MD, United States
- Melbourne, Victoria, Australia
- Tokyo, Japan
- New York, NY, United States

## People

- Richard Adkerson — Chairman
- Kathleen Quirk — President and Chief Executive Officer

## Questions

### Who controls investment decisions at Freeport-McMoRan?

The board of directors and executive management team, led by President and CEO Kathleen Quirk (since 2023) and Chairman Richard Adkerson, oversee capital allocation. Key decisions on major projects and acquisitions require board approval.

### How is Freeport-McMoRan structured as a company?

Freeport-McMoRan is a publicly traded corporation (NYSE: FCX) with a standard corporate governance structure. It is not a family office or managed investment vehicle.

### What sectors does Freeport-McMoRan focus on?

Its sole focus is mining and processing copper, gold, molybdenum, and silver, with an emphasis on copper production. The company does not operate outside the natural resources extraction sector.

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Last updated: 2026-06-03T20:00:00.000Z

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