Freeport-McMoRan Inc.F
Freeport-McMoRan Inc. is one of the world's largest publicly traded copper producers, formed in its modern structure when Freeport-McMoRan Copper & Gold Inc. completed its ~$25.9-26 billion acquisition of Phelps Dodge Corp. on 2007-03-19. Its FY2025 consolidated revenue of $25.9 billion was 75% copper, 15% gold, and 8% molybdenum. Major assets: Morenci, Bagdad, Safford-Lone Star, Sierrita and Miami in Arizona; Chino and Tyrone in New Mexico; Climax and Henderson (molybdenum) in Colorado; Cerro Verde in Peru (FCX 55.08%, up from 53.56% in Sept 2024 for $210M; remainder Sumitomo Metal Mining 21.0%, Buenaventura 19.58%, Lima-exchange public float 4.34%); El Abra in Chile; and the Grasberg minerals district in Indonesia, held via PT Freeport Indonesia (PT-FI: FCX 48.76%, Indonesian government interests ~51.24% via MIND ID and PT Indonesia Papua Metal & Mineral, post-2018 restructuring). At FY2025 year end (2025-12-31), FCX reported 112.3 billion lbs of recoverable proven and probable copper reserves (US 42.5B, South America 45.6B, Indonesia 24.2B), 20.6 million oz gold, and 3.5 billion lbs molybdenum. A fatal 'mud rush' accident at Grasberg on 2025-09-08 (multiple fatalities reported) triggered a force majeure; PTFI targeted a Production Blocks 2/3 restart in Q2 2026, ~85% of normal production restored in H2 2026, with Block 1 restart targeted for 2027. On 2026-02-18 FCX announced an MOU for a 'life of resource' extension of PTFI's operating rights (replacing the prior 2031 IUPK expiration): FCX retains 48.76% through 2041, after which an additional 12% transfers to government interests at no cost, reducing FCX's interest to ~37% from 2042.
Notable vs. Peers
- Jurisdiction risk score of 6/10 is meaningfully riskier than the peer average of 7.7/10.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Dec 1972 · Source
- Reached — date not disclosed · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Not in place: grid power.
Jurisdiction (40%)6/10
Headquartered in Phoenix, Arizona, with a strong US core of mines in Arizona, New Mexico and Colorado. The rating is held down by its largest asset, the Grasberg district in Indonesia (48.76%-owned PT Freeport Indonesia), where a fatal mud-rush accident in September 2025 means production is being restored in stages through 2026-2027, and where operating rights depend on a February 2026 MOU with the Indonesian government for a life-of-resource extension.
Infrastructure (40%)7.1/10
A confirmed mill, confirmed road access, no confirmed grid power, and a confirmed tailings facility at Grasberg Minerals District.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Ok Tedi (Ok Tedi Mining Limited), 465 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:0/10
Nearest producing mine: Ok Tedi (Ok Tedi Mining Limited), 465 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:6/10
Indonesia: jurisdiction score 6/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:8/10
Primary commodity: Copper
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
President and Chief Executive Officer of Freeport-McMoRan Inc. since Jun 2024 (previously the company's longtime President and Chief Financial Officer). Joined Freeport-McMoRan in 1989 directly after graduating from Louisiana State University (accounting degree), holding responsibility for Tax, Investor Relations, Corporate Development and Treasury before being named CFO in 2003.
Executive Vice President (since Jul 2024) and Chief Financial Officer (since Mar 2022) of Freeport-McMoRan Inc. Before Freeport-McMoRan, CFO of Energy and Minerals at Rio Tinto Group (2019-2021); before that, a 17-year career at BHP Group in international finance roles including VP Finance Petroleum USA, VP Finance Potash Canada, and VP Finance at Minera Escondida Ltda.
Chairman of the Board of Freeport-McMoRan Inc., having previously served as the company's CEO before Kathleen Quirk's 2024 appointment.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No smart-money tracking (institutional/large-investor activity) for this miner yet — this is a planned feature, not live data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Freeport-McMoRan is a multi-asset copper major operating in the US, Peru, Chile and Indonesia, including the Grasberg district (through its 48.76% interest in PT Freeport Indonesia) and Morenci in Arizona, the largest US copper mine. It does not publish a single company-level NPV, IRR or price-deck figure.