UNITED
STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington,
D.C. 20549
_______________
Form
SD
Specialized
Disclosure Report
_______________
Freeport-McMoRan
Inc.
(Exact name
of registrant as specified in its charter)
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Delaware
(State or
other jurisdiction of
incorporation or organization)
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001-11307-01
(Commission
File Number)
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74-2480931
(I.R.S.
Employer Identification No.)
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333 North
Central Avenue
Phoenix, AZ
(Address
of principal executive offices)
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85004-2189
(Zip
Code)
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Monique A.
Cenac
Assistant
General Counsel and Corporate Secretary
(602)
366-8100
(Name and
telephone number, including area code,
of the person
to contact in connection with this report.)
Check the
appropriate box to indicate the rule pursuant to which this form is
being filed, and provide the period to which the information in
this form applies:
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x
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Rule 13p-1 under
the Securities Exchange Act (17 CFR 240.13p-1) for the reporting
period from January 1 to December 31, 2019.
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Section 1 -
Conflict Minerals Disclosure
Item 1.01
Conflicts Minerals Disclosure and Report
Freeport-McMoRan
Inc. (FCX) is a leading international mining company with
headquarters in Phoenix, Arizona. FCX operates large, long-lived
geographically diverse assets with significant proven and probable
reserves of copper, gold and molybdenum and had consolidated
revenues from continuing operations totaling $14.4 billion for the
year ended December 31, 2019.
Respect for human
rights is a long-standing commitment of FCX. FCX’s Human Rights
Policy, which is publicly available on its website at
fcx.com/sustainability/human-rights, requires FCX to conduct its
operations in a manner consistent with the Universal Declaration of
Human Rights, the laws and regulations of host countries and the
United Nations Guiding Principles on Business and Human Rights. FCX
promotes human rights awareness through engagement with host
governments and local communities, as well as by providing training
to employees and contractors. FCX conducts its security programs in
line with the Voluntary Principles on Security and Human
Rights.
FCX is filing this
Form SD pursuant to Rule 13p-1 under the Securities Exchange Act of
1934, as amended (the Exchange Act), for the calendar year ended
December 31, 2019, which requires the disclosure of certain
information if any conflict minerals (as defined in Form SD) were
necessary to the functionality or production of a product
manufactured or contracted to be manufactured by FCX during 2019.
Terms herein have the same meanings given to them in Form SD
pursuant to Rule 13p-1 under the Exchange Act.
The United States
(U.S.) Securities and Exchange Commission does not consider an
issuer that mines conflict minerals to be manufacturing those
minerals unless the issuer also engages in manufacturing, whether
directly or indirectly through contract, in addition to mining. In
addition to its mining operations, FCX has certain operations that
are considered manufacturing for purposes of Rule 13p-1 under the
Exchange Act. Accordingly, FCX conducted an analysis of the
products at these facilities to determine if any contained conflict
minerals. As a result, FCX determined that its specialty copper
products facility (Bayway) uses tin (which is a conflict mineral)
in the manufacture of trolley wire, conductor wire, and tin-coated
copper wire (the Subject Products) according to the specifications
of its customers. Bayway made approximately $310 thousand in
purchases of copper alloy rod (which contained tin) and annealed
rod (which contained tin) for use in the manufacture of the Subject
Products in 2019. Because tin is a conflict mineral and is
necessary to the functionality of the Subject Products, FCX
conducted, in good faith, a reasonable country of origin inquiry
(RCOI) reasonably designed to determine whether any of the tin used
by Bayway in the manufacture of the Subject Products during 2019
originated in the Democratic Republic of Congo or an adjoining
country (the Covered Countries).
As described
further below, FCX believes that the tin used in the manufacture of
the Subject Products in 2019 was sourced from smelters designated
as “conflict-free” by the Responsible Minerals Assurance Process
(RMAP), an initiative of the Responsible Business Alliance and the
Global e-Sustainability Initiative, which uses an independent,
third-party audit to determine which smelters and refiners can be
verified as having systems in place to responsibly source minerals
in line with current global standards. A list of smelters and
refiners that meet the standards of the RMAP audit are published on
the Responsible Minerals Initiative website. The audit standards
are developed according to global standards, including the
Organization for Economic Co-operation and Development’s Due
Diligence Guidance for Responsible Supply Chains of Minerals
from
Conflict-Affected
and High-Risk Areas and the U.S. Dodd-Frank Wall Street Reform and
Consumer Protection Act.
Conflict
Minerals Disclosure
FCX has conducted a
good faith RCOI that was reasonably designed, in accordance with
Form SD and related guidance provided by the U.S. Securities and
Exchange Commission, to determine whether any of the tin used by
Bayway in the manufacture of the Subject Products during 2019
originated in the Covered Countries. FCX does not have a direct
relationship with any mines, smelters or refiners that may have
direct knowledge of the source of the tin. As a result, FCX relies
on communications and inquiries with its direct suppliers and
publicly available data to provide information regarding the origin
of the tin included in the Subject Products.
FCX’s inquiry
identified two suppliers that provided copper alloy rod (which
contained tin) and annealed rod (which contained tin) to the Bayway
operation, and these suppliers provided FCX with the identification
of the smelter that produced the tin supplied to Bayway. FCX
verified that the identified smelters were designated as
conflict-free under the RMAP and also obtained and reviewed the
suppliers’ conflict minerals policies, which each provided an
affirmative statement that they do not purchase or process minerals
that originate from the Covered Countries.
Based on its RCOI,
FCX has no reason to believe that the tin used in the manufacture
of the Subject Products by Bayway during 2019 originated from the
Covered Countries. Accordingly, in accordance with Form SD, FCX has
concluded that it is not required to conduct further due diligence
and is not required to file a Conflict Minerals Report as an
exhibit to this Form SD.
The information
included herein is available on FCX’s website at
investors.fcx.com/investors/financial-information/sec-filings/default.aspx.
* Reference to
FCX’s website is provided for convenience only, and its contents
are not incorporated by reference into this Form SD nor deemed
filed with the U.S. Securities and Exchange
Commission.
Item 1.02
Exhibit
None.
Section 2 -
Exhibits
Item 2.01
Exhibits
None.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant
has duly caused this report to be signed on its behalf by the duly
authorized undersigned.
FREEPORT-MCMORAN
INC.
By:
/s/
Kathleen L. Quirk
Kathleen L.
Quirk
Executive Vice
President and Chief Financial Officer
Dated: May 27,
2020
