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Freeport-McMoRan Inc., often called Freeport, is an American mining company based in the Freeport-McMoRan Center, in Phoenix, Arizona. The company is the world's largest producer of molybdenum , a major copper producer and operates the world's largest gold mine , the Grasberg mine in Papua, Indonesia .
The mine was started as the Chino Copper Company in 1909 by mining engineer John M. Sully and Spencer Penrose, [1] [2] [3] and is currently owned and operated by Freeport-McMoRan Inc. subsidiaries. The area where the mine is located is at an average elevation of 5,699 feet (1,737 m).
Tyrone is located 5 miles (8.0 km) northeast of the original town of Tyrone, which was destroyed by mining operations. [2] The townsite was built by the Phelps Dodge mining company (now Freeport-McMoRan) to house miners. Between 1968 and 1972, there were 320 homes built; four or five more have been added since then.
PHOENIX & HOUSTON & NEW ORLEANS--(BUSINESS WIRE)-- Freeport-McMoRan Copper & Gold Inc. (NYS: FCX) , Plains Exploration & Production Company (NYS: PXP) and McMoRan Exploration Co. (NYS: MMR ...
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The Morenci Mine is a large copper mine located near Morenci, Arizona, United States.Morenci represents one of the largest copper reserves in the United States and in the world, having estimated reserves of 3.2 billion tonnes (3.5 × 10 9 short tons) of ore grading 0.16% copper.
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Due to lower molybdenum prices, Freeport-McMoRan announced in November 2008 that it was deferring the plan to reopen the Climax mine. [9] [10] At the time, the company had spent about US$200 million preparing for a restart of the mine, with an estimated US$350 million more needed to complete the capital improvements and reopen. [11]