Training Example: Freeport-McMoRan (FCX) – Review the Data, Give Your Score & Compare to the Real AI Evaluation

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At the Core

[H2] FOCUSED ON BUILDING VALUE FOR SHAREHOLDERS

[H2]

NEWS RELEASES

[H2]

PRESENTATIONS

[H2]

BOARD & MANAGEMENT

[H2]

COPPER AT A GLANCE

[H6] LATEST NEWS RELEASES

[H6] LATEST PRESENTATION

[H2] NORTH AMERICA

In North America, FCX operates seven open-pit copper mines — Morenci, Bagdad, Safford (including Lone Star), Sierrita and Miami in Arizona, and Chino and Tyrone in New Mexico; and two molybdenum mines — Henderson and Climax in Colorado. Molybdenum concentrate, gold and silver are also produced by certain of FCX’s North America copper mines.

FCX’s Lone Star project located near its Safford operation in Arizona was substantially completed in 2020. FCX continues to advance opportunities to increase Lone Star operating rates and is advancing plans to increase volumes to achieve 300 million pounds of copper per year from oxide ores.

FCX has significant undeveloped reserves and resources in North America and a portfolio of potential long-term development projects. Future investments are dependent on market conditions and will be undertaken based on the results of economic and technical feasibility studies, including the incorporation of innovation initiatives to reduce capital intensity.

[IMG: Highlighting our new Lone Star mine in Southeastern Arizona]
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[H4] Highlighting our new Lone Star mine in Southeastern Arizona
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Highlighting our new Lone Star mine
in Southeastern Arizona
[IMG: Arizona Copper Mining]
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[H4] Arizona Copper Mining
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Arizona Copper Mining
[IMG: New Mexico Copper Mining]
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[H4] New Mexico Copper Mining
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New Mexico Copper Mining
[IMG: Molybdenum Operations]
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[H4] Molybdenum Operations
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Molybdenum Operations
[IMG: Morenci: Deep Roots, Broad Horizons]
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[H4] Morenci: Deep Roots, Broad Horizons
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Morenci: Deep Roots, Broad Horizons
[IMG: Strengthening the World Connecting the Future - Climax Molybdenum]
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[H4] Strengthening the World Connecting the Future® -
Climax Molybdenum
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Strengthening the World Connecting the Future® - Climax Molybdenum
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MORE VIDEOS

[H2] TOOLS FOR SUPPLIERS

[H4] Supplier Portal

[H4] Overview

Suppliers have a significant impact on Freeport-McMoRan’s operations and costs. Supplier relationships are key to Freeport-McMoRan’s success. Freeport-McMoRan’s Global Supply Chain manages strategic and high profile commodities and services on a global, regional, and / or local basis.

Freeport-McMoRan commits to conduct all business:

in a fair and reasonable manner
with high integrity
utilizing best available data for decision making enabling accountability
driving innovation and creativity
fostering open and honest communications

[H4] Supplier Information North America Mining & FCX Headquarters  |  Peru  |  Chile  |  Indonesia  |  Europe

[H6] Supplier Requirements

We seek to establish mutually beneficial, long-term relationships with Suppliers who demonstrate their commitment to our Business Partner Code of Conduct, which is based on our company’s Principles of Business Conduct.   Suppliers are expected to abide by the laws of the countries in which they operate and conduct business according to the Code, even if local customs or practices differ from standards in the Code.

If selected, new suppliers will be invited to register in the Ariba network. There is no cost to register, and new suppliers will be asked to provide tax, payment information, and other relevant business documentation through Ariba. New and existing business partners may be asked to complete an online questionnaire focused on issues of anti-corruption, international trade controls, and human rights compliance via the Freeport Compliance eXchange (FCeX) online due diligence compliance platform.  Completion of the questionnaire enables FCX and its affiliates to conduct supplier-specific risk assessments to ensure our company and those with which we work operate in compliance with relevant U.S. and international laws. Business partners who have received a request to complete a questionnaire should refer to the instructions contained in the automated email message sent by FCeX.  FCeX is available in multiple languages.  For further information, please contact FCX Compliance by email.

Freeport-McMoRan utilizes suppliers who exhibit the highest level of safety awareness, ethical behavior and quality of performance. We also encourage opportunities for local suppliers where feasible. To prepare suppliers for business, Freeport's Health & Safety Policies and Company Policies are available in the below Policy Documents section. All suppliers are expected to abide by our Business Partner Code of Conduct and follow all Freeport Policy Documents. Key attributes include:

incorporating safety in all commercial decisions;
exhibiting the highest level of integrity at all times and in all dealings;
quality of work;
on-time delivery; and
cost savings innovation.

To get information on becoming a Supplier, please reach out to the appropriate individual noted in the supply chain contacts page.

[H6] FCX Compliance Line

The FCX Compliance Line is available 24 hours a day, seven days a week to report incidents or other concerns that raise legal or ethical concerns.  Suppliers can remain anonymous but must identify themselves as a Supplier.

For questions about the Code, to discuss issues or to report a concern:

Review company polices available on fcx.com
Contact your local Contract Administrator or Buyer
Contact your corporate Category Manager
Email the FCX Global Compliance team
Fill out the FCX Compliance Line form
Contact the FCX Compliance Line:

North America Mining & FCX HeadquartersPeruChileIndonesiaEurope

[H4] Contact GSC

[H6] GSC Management

William Brown
Sr. Director Category Management

Brian Buttram
Sr. Director GSC Materials Management

Steve Harris
Director GSC Operations

Shikhar Hassani
Director GSC Business Process

Morgan Lamb
Director of Org Development, Aviation & Responsible Sourcing

Mike McAdam
Director, PTFI - New Orleans Office

Bruce Nickle
Director GSC Logistics and Transportation

James Seballos
Director GSC Operations

[H6] GSC Category Managers

Carlos Chala Calvo
Materials Engineering Manager -
Tires and Grinding Media

Dan Christensen
Strategic Category Manager, MRO - Rectifiers,
Power Transmission, Safety, and Electric Motors

William Dare
Category Manager - Fuels and Lubricants

Jason Dembow
Strategic Sourcing Manager, Transportation

Gretchen Donahue
Manager Category Management - Logistics

Robert Donnelly
Manager UAS Program

Angela Edgmon
Transportation Compliance and Safety

Ryan Forman
Manager Freight, Transportation - GSC Inbound

Chris Hester
Transportation Accounts Payable

Hugo Toro Gonzales
Strategic Category Manager

Andrea Harris
Strategic Sourcing Manager, Sulfuric Acid and Sulfur, Global

Sergio Henriquez
Strategic Category Manager, MRO -
Shovels GET, Electrical, Electric Wire

Amber John
Category Manager, Process Equipment -
Crushing/Milling

Morgan Johnson
Strategic Category Manager, PTFI

Thomas Knudsen
Category Manager, Exploration, Energy Services -
Contract Drilling, Natural Gas

Jay Kridel
Category Manager – OH Cranes

Steve McBride
Strategic Category Manager, Mobile Equipment -
Mining - Haulage & Support Equipment

Alvaro Meneses
Strategic Category Manager, Process Equipment / Chemicals and Reagents -
Control Systems/ Sulfuric Acid, Drills

Charles Seaton
Category Manager – Remediaton, Pumps

Brittany Stamey
Strategic Category Manager, Bulks

Victor Suripatty
PTFI Gen Supt, Strategic Commodities
Commodities – Multiple Regional Strategic Vendors

Stanberg Tallman
Category Manager - Chemicals and Lime

Ren Thatcher
Sr Process Leader, Process Equipment -
Liners/Belts/Conveyors

Andrea Vizcarra
Category Manager – Explosives

[H6] NA - GSC Site Leaders

Flavio Aguilar
Manager, Supply Chain
El Paso, TX

Kandice Alt
Manager, Regional Supply Chain
Miami, AZ

Wally Brice
Manager, Regional Supply Chain
Bagdad, AZ

Bradley Chadwick
Manager, Regional Supply Chain
New Mexico Sites

John Kvederis
Manager, Regional Supply Chain
Climax, CO

Christian Pacheco
Manager, Regional Supply Chain
Sierrita, AZ

Dale Patterson
Site Lead
Morenci, AZ

Cathy Patti
Manager, Regional Supply Chain
Henderson, CO

David Polette
Manager, Supply Chain
Ft. Madison, IA

Steven Sedillos
Manager, Regional Supply Chain
Safford, AZ

Ron Slan
Manager, Supply Chain
Technology Centers (Safford & Tucson, AZ)

[H6] SA - GSC Site Leaders

Robert Paul Gonzalez Paez
El Abra, SA

Angel Espinoza Valencia
Cerro Verde, SA

[H6] PT Freeport Indonesia - GSC Site Leaders

Arief Latif
Senior Manager
PTFI Procurement and Jakarta/Domestic Procurement, Logistics, EXIM

Anthony Weaver
IPI Office Manager
Brisbane, Australia

[H6] Europe - GSC Site Leaders

Bart Luijsterburg
Stowmarket, UK & Rotterdam, NL

Miguel Angel Estrada Moreno
Atlantic Copper, Spain

[H4] Hourglass Approach

Freeport-McMoRan Global Supply Chain has developed a unique initiative called the “Hourglass”.

[H6] Examining The Supply Chain Process

The Hourglass approach requires Freeport-McMoRan and its suppliers to jointly examine the supply chain process from

operational need identification to
supplier material purchase and production to
material and service delivery to
payment settlement.

[H6] Working Together to Reduce Waste and Increase Profit

The objectives are to understand each business and all related activities that impact both companies. The intent is not to shift costs but rather to seek out opportunities that jointly eliminate waste and inefficiencies, creating shared savings and greater profitability for both companies. This strategic relationship focuses heavily on using data to make better business decisions.

The Hourglass Model illustrates Freeport-McMoRan’s total supply chain cost to Freeport-McMoRan, including the negotiated contractual pricing (the narrowest point) to supplier and Freeport-McMoRan costs that occur before, during, and after need identification. Some of the business processes and costs analyzed in the Hourglass project are represented in the boxes in the upper and lower triangles of the Hourglass. These processes and costs include:

planning
sourcing
emergency ordering
order fulfillment
freight & shipping
stock-out process
component failure tracking
receiving & inventory management
invoicing & billing
warranty management
payment processing

A typical Hourglass project will analyze two to three of these supplier and Freeport-McMoRan processes/costs areas.

[H4] Sales of Equipment & Materials

[H6] Freeport-McMoRan’s Asset Recycling and Disposition Team

Freeport-McMoRan’s Asset Recycling and Disposition Team offers sales of used, open pit and underground mining equipment and primary and secondary crushing, milling, flotation and processing equipment.

For more information on items that are available for sale or for information on upcoming auction events please contact one of the following representatives.

[H6] Asset Recycling and Disposition Contacts

[H6] North America

Vanessa Brewer and Bailie Dauzat
Bagdad, Chino, El Paso, Fort Madison, Henderson, Miami, Morenci, Safford, Sierrita, Tyrone

[H6] South America

Roberto Cuzcano
Cerro Verde
Gustavo Pacheco
Cerro Verde

[H4] Terms & Conditions North America Mining   |   General Terms and Conditions   |   Service Order Terms and Conditions   |     South America - Términos y Condiciones Generales Orden de Servicio Sudamérica   |   Indonesia - Terms and Conditions

[H6] North American Mining

General Terms and Conditions Service Order Terms and Conditions

[H6] South America / Términos y Condiciones Generales Orden de Servicio Sudamérica

[H6] Chile

[H6] El Abra

Clausulas Ordenes Servicio

[H6] Peru

[H6] Cerro Verde

Terminos y Condiciones

[H6] Indonesia / Terms and Conditions

General Terms and Conditions - Indonesia General Terms and Conditions - PTFI Contract Dept General Terms and Conditions - Singapore General Terms and Conditions - PSUGeneral Terms and Conditions - RPHGeneral Terms and Conditions - Australia

[H4] External Standards/Initiatives

To help suppliers understand our sustainability approach and expectations, please refer to the below resources from which our Business Partner Code of Conduct and due diligence processes are based.

The UN Global Compact is a voluntary, corporate sustainability initiative of CEO commitments to implement universal sustainability principles and to support UN goals. FCX became a supporting member in March 2020. The UN Sustainable Development Goals (SDGs) are the UN-agreed priority areas for global sustainable development between 2015 and 2030. We seek to make a positive contribution to the goals in the communities where we operate as well as with the commodities we produce.

The United Nations Guiding Principles (UNGPs or Guiding Principles) are the global standard on business and human rights, providing a blueprint for companies to prevent and address the risk of adverse human rights impacts related to their business activities. FCX updated its Human Rights Policy to include a commitment to the UNGPs in 2015.

The Mining Local Procurement Reporting Mechanism (LPRM) is a set of disclosures that seeks to standardize how the global mining industry and host countries measure and talk about local procurement. FCX has met the LPRM disclosure requirements.

English    Spanish    Indonesian

The Extractive Industries Transparency Initiative (EITI) is the global standard to promote transparent and accountable governance in the extractives sector. FCX has endorsed and been committed to the EITI since 2008.

The Voluntary Principles on Security and Human Rights (VPs) is a multi-stakeholder initiative that promotes implementation of a set of principles that guide companies in providing security for their operations in a way that respects human rights. The VPs are the guidelines for our security programs. FCX was a founding member of the VPs in 2000 and remains an active member today, reporting annually and participating in plenary.

FCX is committed to the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals in Conflict-Affected and High-Risk Areas, which requires an annual Step 5 Report detailing risks identified and managed in our mineral supply chains.

[H4] Policy Documents

Health and Safety Policies | Specific Health and Safety Policies | Company Policies

[H3] Health and Safety Policies

[H6] Contractor Health, Safety and Environmental Manual

Updates to the Contractor Health, Safety and Environmental Manual will be posted here. Revisions and updates are communicated through our Global Supply Chain and FM Project Manager. Project Managers, please refer to sections 1.2 and 3.2.1 of the Manual.

The latest revision of the FCX Contractor Health, Safety and Environmental Manual is located here. Please be sure you have destroyed any printed copies of the previous revision by the expiration date on the cover and are only using the most current version. All changes made to this version are found in the Revision History section of the manual. Please contact your site project manager for specific policies related to your scope of work.

English
Spanish

[H3] Specific Health and Safety Policies

The FCX Health and Safety Policies are located here. Please be sure you have destroyed any printed copies of the previous versions and are only using the most current version. Please contact your site project manager for specific policies related to your scope of work.

[H6] Dept. of Occupational H&S Policy Administration

English

[H6] Aviation Safety Policy

English

[H6] Bus Safety

English

[H6] Confined Space

English

[H6] Control of Hazardous Energy Sources (LOTOTO)

English
Dutch

[H6] Crane and Rigging

English

[H6] Elec

Effective environmental stewardship is essential to the long-term viability of our business, including maintaining the necessary support from our host communities and governments. Through responsible environmental stewardship, strong management systems and continuous improvement, we plan and conduct our operations in a manner that seeks to minimize adverse environmental impacts. We are committed to protecting the natural environment with a particular focus on climate resiliency, responsible water use, biodiversity conservation, tailings management and non-mineral waste management.

[H4] Climate

OUR APPROACH

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We are dedicated to supplying the global economy with responsibly produced copper, which includes operating in a manner that manages and mitigates our GHG emissions and other climate-related risks and impacts.

Our climate strategy is founded on three pillars: Reduction, Resilience and Contribution.

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REDUCTION
We strive to reduce, manage and mitigate our GHG emissions where possible. We have four 2030 GHG emissions reduction targets, covering nearly 100% of our Scope 1 and 2 GHG emissions, which help us to manage relevant, climate-related risks and support the decarbonization of our business globally.

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RESILIENCE
We strive to enhance our resilience to climate change risks (both physical and transitional risks) for our current and future operations, local communities and stakeholders. This includes working to analyze and prepare for extreme weather events, water stress and other potential climate change impacts while also supporting our communities and responding to anticipated market and regulatory demands.

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CONTRIBUTION
We strive to be a positive contributor beyond our operational boundaries by responsibly producing the copper that will support the technologies needed to enable the energy transition. This includes collaborating with partners in our value chain and industry associations to identify climate-related solutions that will support the global energy transition to a low-carbon economy and ultimately meet the goals of the Paris Agreement.

[IMG: decorative]

For more information on copper’s uses, please see the Copper at a Glance webpage.

To learn more about our approach to climate, including our strategy and performance, please read our 2023 CLIMATE UPDATE and our 2024 ANNUAL REPORT ON SUSTAINABILITY

[H4] Water Stewardship

OUR APPROACH

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Water is essential to our operations and the sustainability of FCX. We cannot operate without water and we understand the importance of managing the impacts of our activities on both water availability and quality, along with respecting the rights of local communities and Indigenous neighbors.

FCX’s water stewardship program aims to secure reliable, long-term water supplies while maximizing water-use efficiency within our operations. On the supply side, we seek to identify opportunities to shift to more sustainable water sources, such as recycled, reused, renewable and lower-quality water. On the use side, we are working to identify best practices, scalable options and technological innovations to maintain our high water-use efficiency rates and reduce our freshwater usage over the long term. We review our water usage and consumption patterns regularly to understand our water balances and identify efficiency opportunities.

Globally, we aim to identify, manage and to support the continuous improvement of our operations and promote water security for local communities and the natural systems within which we operate. To that end, we recognize the importance of collaborating with our stakeholders, including providing education, opportunities to adopt new technologies as well as balancing responsible production with societal needs and expectations.
[IMG: Water Management Goals]

To learn more, please see our 2024 ANNUAL REPORT ON SUSTAINABILITY

[H4] Nature

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OUR APPROACH

As a global metals company, we acknowledge that we are dependent on nature and that our business activities impact that natural environment. While we have long appreciated the interconnectedness of climate, water, biodiversity and land use, we have worked to deepen our understanding of the nexus between these issues in the context of nature, supporting the development and adoption of our nature strategy.

Across the three pillars of our nature strategy, we established objectives aligned with the Kunming-Montreal Global Biodiversity Framework’s (GBF) 2030 mission and ICMM’s “Nature Positive by 2030” ambition:

1. Minimize Nature-Related Risks: We strive to reduce, manage and mitigate nature-related risks associated with our direct operations and business decisions, including those in the value chain.
2. Foster Resilient Ecosystems: We strive to improve the resilience of the ecosystems within our direct operations and to invest in initiatives aiming to do the same in priority landscapes.
3. Catalyze Nature Actions: We strive to be a positive contributor to and supporter of a nature-positive future by collaborating with suppliers, trade associations and peers to share knowledge, data and experiences to drive progress.

As we implement our nature strategy, we will seek to further integrate nature considerations into business decision-making tools and processes, including our biodiversity management plans, mitigation hierarchy implementation, and supply chain due diligence, among others.

To learn more, please see our 2024 ANNUAL REPORT ON SUSTAINABILITY

[H4] Biodiversity

OUR APPROACH

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Our Environmental Policy states our commitment to contribute to the conservation of biodiversity, to apply the mitigation hierarchy for all new projects, and to not explore or mine in any UNESCO World Heritage Sites.

As part of our mining and processing activities, we are responsible for management of our land and the associated biodiversity. We are committed to programs to allow us to proactively identify and manage the potential impacts of our operations on biodiversity, land and surrounding ecosystems and, where adverse impacts cannot be avoided, mitigating them. We also considered biodiversity and land use as part of our broader nature strategy.

We focus on biodiversity and land management across the life cycle of our operations and recognize that the mitigation hierarchy is most effective when applied during the earliest phases of project planning. Our sites and subject matter experts on our corporate team collaborate to evaluate each potential project area to identify and share mapping of key features related to biodiversity, cultural resources, water resources and various other environmental factors before a project proceeds. In some cases, these measures may also fulfill regulatory requirements governing project authorizations. Biodiversity, habitat restoration and conservation are also key components of our reclamation plans and activities at our sites.

By applying the mitigation hierarchy, we aim to manage risks and potential impacts with the long-term ambition of No Net Loss for new mines and major expansion projects at existing mines. We have integrated the hierarchy into our existing development process for new projects and trained our environmental teams to routinely apply it to all projects (regardless of size) at operating sites that may disturb natural habitats.

To learn more, please see our 2024 ANNUAL REPORT ON SUSTAINABILITY and biodiversity management plan summaries

[H4] Tailings Management

[H4] Non-Mineral Waste Management

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OUR APPROACH

FCX is committed to reducing our environmental impact, which includes the effective management of our non-mineral waste (such as recycled material and landfilled waste). We continuously evaluate opportunities to reduce the quantity of non-mineral waste generated at our operations. We seek to apply the standard protocol of reduce, reuse or recycle wherever possible and implement robust practices to identify, categorize, store and manage non-mineral wastes. Through our asset recovery programs, we divert certain materials from landfills, and we strive to increase recycling and reuse of those materials in our operations, taking a circular economy approach whenever possible. We also evaluate our hazardous waste streams and, when possible, substitute materials with lower toxicity into our processes. For wastes that require disposal, we work with third-party handlers to confirm that the treatment, storage and disposal facilities manage the non-mineral waste in line with contractual or legislative obligations.

Our dedicated non-mineral waste management team is composed of subject matter experts from across the company who are responsible for advancing our technical expertise and developing leadership skills through multi-site collaboration. Our experts provide guidance to support global consistency in our non-mineral waste management programs and adherence to FCX’s Environmental Policy.

To learn more, please see our 2024 ANNUAL REPORT ON SUSTAINABILITY

[H4] Mine Closure and Reclamation

OUR APPROACH

[IMG: In Colorado, we work with Trout Unlimited and the Division of Reclamation, Mining and Safety in a multi-year partnership focused on supporting a clean watershed. Our partnership interconnects with our Colorado legacy mine site reclamation at the former Keystone mine site near Crested Butte, Colorado. The partnership has been integral to the successful design and implementation of reclamation activities at the site for the last three years.]

FCX understands that effectively reclaiming disturbed land and responsibly planning for closure of our mining and processing sites contributes to maintaining the trust of our local communities, governments, and other interested stakeholders, and therefore, reclamation and mine closure processes are integral to our site planning and ongoing operations.

We seek to plan and operate our mines in a manner that considers post-mining land use well in advance of mine closure. Likewise, when designing new projects or expanding existing ones, we plan for how the land can be reclaimed once the mine closes.

FCX strives to work in partnership with our host communities (which in many cases include Indigenous Peoples) to define and deliver shared value throughout the mine life cycle. We not only seek to avoid, minimize and mitigate negative impacts from our operations, but also aim to provide long-lasting benefits to our neighbors so they can thrive beyond the life of our mines. At each of our operations, we have mine closure and reclamation plans with site-specific environmental measures designed to minimize long-term impacts, promote ecosystem reestablishment and protect the watersheds where we operate. To support future anticipated closure and reclamation costs, each operating mine site has asset retirement obligations aligned with approved closure plans. Closure plans are periodically updated to incorporate new learnings and additional disturbances associated with new development and expansion projects.

To learn more, please see our 2024 ANNUAL REPORT ON SUSTAINABILITY