Who Owns Freeport-McMoRan?
Freeport-McMoRan is the operating brand of Freeport-McMoRan Inc. (NYSE: FCX), a publicly traded American mining company headquartered in Phoenix, Arizona. The brand name covers the company's copper, gold, and molybdenum output from mines in the United States, Peru, Chile, and Indonesia, including the Grasberg minerals district, the world's largest gold mine.
Parent Company
Founded
1987
Status
Publicly Traded
Headquarters
GlobalOfficial Website
Who Owns Freeport-McMoRan?
- Parent Company: Freeport-McMoRan Inc.
- Ownership Type: Brand division
- Company Type: Publicly Traded
- Stock Ticker: NYSE: FCX
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Freeport-McMoRan | Freeport-McMoRan Inc. | Brand division |
History of Freeport-McMoRan
- Founded: 1987
- Founders: William Kennon Williams, James R. Moffett, B.M. Rankin Jr.
The brand's lineage combines two companies. Freeport Sulphur Company was founded in 1912 near Freeport, Texas, mining sulfur from salt domes by the Frasch process, and reorganized as Freeport Minerals Company in 1966. McMoRan Oil & Gas was founded in 1969 in New Orleans by three partners whose surnames formed the company name: William Kennon Williams, James R. Moffett, and B.M. Rankin Jr.
McMoRan and Freeport Minerals merged in 1981 to form Freeport-McMoRan Inc., adopting the holding-company structure in 1987. The Freeport name became identified with copper when the company developed the Grasberg deposit in the Indonesian province now called Central Papua, building on a contract of work signed in 1967 after geologist Jean Jacques Dozy's 1936 discovery of the Ertsberg ore body. Grasberg began producing in 1973 and grew into one of the largest copper and gold complexes ever mined.
The 2007 acquisition of Phelps Dodge for about $25.9 billion made the combined company the world's largest publicly traded copper producer and added the Arizona and New Mexico mine fleet, plus Cerro Verde in Peru and El Abra in Chile, that still anchors the brand.
The brand's hardest recent chapter began on September 8, 2025, when a mud rush at the Grasberg Block Cave underground mine killed seven workers and halted production. The unaffected underground mines restarted in late October 2025, and a phased Block Cave restart began in the second quarter of 2026, with roughly 85% of Grasberg production expected restored in the second half of 2026.
About Freeport-McMoRan Inc.
What is Freeport-McMoRan?
Freeport-McMoRan Inc. is a publicly traded American mining company headquartered in Phoenix, Arizona. It is the world's largest publicly traded copper producer, operating copper, gold, and molybdenum mines in North America, South America, and Indonesia. The company trades on the NYSE under ticker FCX.
Is Freeport-McMoRan publicly traded?
Yes. Freeport-McMoRan Inc. trades on the New York Stock Exchange under the ticker FCX. Shares are widely held by institutional investors, and no single shareholder controls the company.
When was Freeport-McMoRan founded?
The holding company was formed in 1987, following the 1981 merger of Freeport Minerals and McMoRan Oil & Gas. Its oldest predecessor, Freeport Sulphur Company, was founded in 1912 in Freeport, Texas. McMoRan was founded in 1969 in New Orleans by William Kennon Williams, James R. Moffett, and B.M. Rankin Jr.
Who is the CEO of Freeport-McMoRan?
Kathleen Quirk has served as president and chief executive officer since June 2024. She previously spent more than two decades as the company's chief financial officer. Richard Adkerson, who led the company for two decades, remains chairman of the board.
What mines does Freeport own?
Freeport operates seven copper mines in North America including Morenci and Bagdad in Arizona, the Cerro Verde mine in Peru, the El Abra mine in Chile, and the Grasberg minerals district in Indonesia through PT Freeport Indonesia. It also owns the Henderson and Climax molybdenum mines in Colorado, the Atlantic Copper smelter in Spain, and a 66% stake in the PT Smelting facility in Indonesia.
What happened at Grasberg in 2025?
On September 8, 2025, a mud rush at the Grasberg Block Cave underground mine released roughly 800,000 tonnes of wet material into the workings, killing seven workers and halting production. The unaffected DMLZ and Big Gossan mines restarted in late October 2025, and a phased Block Cave restart began in the second quarter of 2026, with about 85% of Grasberg production expected back online in the second half of 2026.
What was Freeport's revenue in 2025?
Freeport reported revenue of $25.9 billion for fiscal year 2025 and net income attributable to common stock of $2.2 billion, or $1.52 per diluted share. Copper provided about 75% of revenue, gold about 15%, and molybdenum about 8%.
- Founded: 1987
- Headquarters: Phoenix, Arizona, USA
- Company Type: Publicly Traded
- Stock: NYSE: FCX
- Revenue: $25.9 billion (FY2025)
- Employees: Approximately 28,500
Where Is Freeport-McMoRan Made / Based?
- Headquarters: Phoenix, Arizona, USA
- Manufacturing / Operations: United States, Indonesia, Peru, Chile, Spain
Freeport-McMoRan Categories & Tags
Freeport-McMoRan Sustainability & Ethics
The brand's sustainability posture is set by the corporate framework. Freeport is a member of the International Council on Mining and Metals and has achieved Copper Mark assurance at several operations, a third-party standard for responsible copper production.
Commitments include 2030 greenhouse-gas intensity reduction targets and an aspiration toward net zero by 2050, plus significant community investment in Papua, where programs fund health, education, and Indigenous development. The company reports spending exceeding $100 million annually on community programs in some years.
The dominant ethical issue is the riverine tailings system at Grasberg, under which mine waste is deposited into a designated river system under Indonesian permits. Environmental organizations have criticized the practice for decades; Freeport maintains it is the only workable option at current volumes and operates an approved closure plan through 2041.
Freeport-McMoRan Recalls & Controversies
The September 8, 2025 mud rush at the Grasberg Block Cave mine killed seven workers, the deadliest incident in the company's modern history. About 800,000 tonnes of wet material entered the underground workings. The company suspended Block Cave operations, completed investigations and remediation planning, and began a phased restart in the second quarter of 2026. The incident reduced 2026 production guidance and generated charges for idle capacity and recovery.
Long-running controversies surround the same site. The riverine tailings disposal system has been a target of environmental criticism for decades, and the operation has faced periodic labor unrest and security incidents in the Papua region, including violence attributed to separatist groups.
The brand also carries historical disputes over its Indonesian fiscal terms, largely resolved by the 2018 divestment agreement that gave the Indonesian state majority share ownership of PTFI while preserving Freeport's operating control through 2041.
Freeport-McMoRan Ownership: Pros & Cons
Advantages
- +Largest publicly traded copper producer with a multi-decade reserve base
- +Grasberg is one of the richest copper and gold deposits ever developed
- +Strong operating cash flow and upside leverage to copper prices
- +Organic growth pipeline in leaching and brownfield expansions
- +Sole top-tier copper producer headquartered in the United States
Considerations
- -Grasberg concentration creates single-asset operational and fatality risk
- -Indonesian government holds majority PTFI ownership, a persistent political exposure
- -Earnings are highly sensitive to copper, gold, and molybdenum prices
- -Riverine tailings disposal remains the industry's most-cited environmental issue
- -Capital intensity requires sustained multi-billion-dollar annual investment
Frequently Asked Questions About Freeport-McMoRan
Sources & Further Reading
Competitors to Freeport-McMoRan
No direct competitors found in the same category. This could be because Freeport-McMoRanoperates in a unique market segment or we're still building our competitor database.
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