FCX (Freeport-McMoRan) Fixed Maturity Investment

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What is Freeport-McMoRan Fixed Maturity Investment?

Fixed Maturity Investment only applies to insurance companies.

Freeport-McMoRan Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Freeport-McMoRan Inc (NYSE:FCX) » Definitions » Fixed Maturity Investment

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Traded in Other Exchanges

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Address

333 North Central Avenue, Phoenix, AZ, USA, 85004-2189

Website

https://www.fcx.com

Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.2 million metric tons of copper (its share) in 2023, making it the one of the world's largest copper miners by volume. It also sold about 900,000 ounces of gold, mostly from Grasberg, and 70 million pounds of molybdenum. About 75% of 2023 revenue was from copper, with a further 15% from gold and about 10% from molybdenum. It had about 25 years of copper reserves at end December 2023. we expect it to sell similar amounts of copper midcycle in 2028, though we expect gold volumes to decline to about 700,000 ounces then due to falling production at Grasberg.

Executives

Maree E. Robertson	officer: SVP & CFO	333 N. CENTRAL AVE., PHOENIX AZ 85004
Stephen T. Higgins	officer: Senior VP & CAO	333 N. CENTRAL AVENUE, PHOENIX AZ 85004
Richard C Adkerson	officer: President and CFO
Ellie L. Mikes	officer: Chief Accounting Officer	333 N. CENTRAL AVE., PHOENIX AZ 85004
Currault Douglas N. Ii	officer: Senior VP & General Counsel	333 N. CENTRAL AVENUE, PHOENIX AZ 85004
Sara Grootwassink Lewis	director	C/O CAPITALSOURCE INC., 4445 WILLARD AVENUE, 12TH FLOOR, CHEVY CHASE MD 20815
Ryan Michael Lance	director	SHIPPING & RECEIVING CENTER, 16930 PARK ROW DR., HOUSTON TX 77084
Robert W. Dudley	director	333 NORTH CENTRAL AVENUE, PHOENIX AZ 85004
David P Abney	director	55 GLENLAKE PARWAY, NE, ATLANTA GA 30328
Marcela E Donadio	director	7909 PARKWOOD CIRCLE DRIVE, HOUSTON TX 77036-6565
Dustan E Mccoy	director
Hugh Grant	director	C/O PPG INDUSTRIES, INC., 1 PPG PLACE, PITTSBURGH PA 15272
Whitmire C Donald Jr	officer: Vice President and Controller
Kathleen L Quirk	officer: SVP, CFO, Treasurer	1615 POYDRAS STREET, NEW ORLEANS LA 70112
Gerald J Ford	director	200 CRESCENT CT STE 1350, DALLAS TX 75201