Freeport-McMoRan Sites Awarded The Copper Mark for Responsible Production Practices
December 10 2020 - 08:00AM
Business Wire
Freeport-McMoRan Inc. (NYSE: FCX) is pleased to announce the
Copper Mark has been awarded to its first three sites: the Cerro
Verde mine in Peru, the El Abra mine in Chile and the Atlantic
Copper smelter and refinery in Spain. The Copper Mark is a new,
comprehensive assurance framework that promotes responsible
production practices and demonstrates the industry’s contribution
to the United Nations Sustainable Development Goals. It is the
first and only framework developed specifically for the copper
industry and enables each site to demonstrate to customers,
investors, final manufacturers and other stakeholders their
responsible production performance.
FCX initially signed a letter of commitment in September 2020 to
commence the application process for six of its operating sites,
with the first three being awarded today. The company has plans to
validate all of its operating sites against the Copper Mark
requirements.
Richard C. Adkerson, President and Chief Executive Officer,
said, “I am pleased to announce our first three sites have been
awarded the Copper Mark. As an early adopter of the Copper Mark
assurance framework, we are committed to responsible production
practices across our global operations. Freeport is foremost in
copper, a metal which plays an essential role in the technologies
necessary to support global decarbonization, to advance reliable
electrical grids, telecommunications and transportation to connect
and advance society. We are dedicated to supporting this progress
by supplying the global economy with responsibly produced
copper.”
To receive the Copper Mark, copper producers must be assessed
independently against a comprehensive set of environmental, social
and governance (ESG) criteria on a site-by-site basis. The
framework currently is focused on copper producers at the beginning
of the supply chain, but it intends to include fabricators in the
coming years with the goal of establishing a chain of custody for
the entire supply chain.
The Copper Mark was originally founded and developed by the
International Copper Association (ICA), of which FCX is a member,
in conjunction with various stakeholders including financial
institutions, commodities exchanges, Nongovernmental Organizations,
Original Equipment Manufacturers, and copper fabricators. The
Copper Mark now is an independent entity and builds on the advice
of its multi-stakeholder advisory council.
To learn more about the Copper Mark visit www.coppermark.org. To
learn more about the United Nations Sustainable Development Goals
visit
https://www.un.org/sustainabledevelopment/sustainable-development-goals/.
FREEPORT: Foremost in Copper
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. FCX is one of the world’s largest
publicly traded copper producers.
FCX’s portfolio of assets includes the Grasberg minerals
district in Indonesia, one of the world’s largest copper and gold
deposits; and significant mining operations in North America and
South America, including the large-scale Morenci minerals district
in Arizona and the Cerro Verde operation in Peru.
By supplying responsibly produced copper, FCX is proud to be a
positive contributor to the world well beyond its operational
boundaries. Additional information about FCX is available on FCX's
website at "fcx.com."
Cautionary Statement: This press release contains
forward-looking statements, which are all statements other than
statements of historical facts, such as plans to validate all
operating sites against the Copper Mark requirements. The words
“anticipates,” “may,” “can,” “plans,” “believes,” “estimates,”
“expects,” “projects,” "targets," “intends,” “likely,” “will,”
“should,” “could,” “to be,” ”potential," “assumptions,” “guidance,”
“future” and any similar expressions are intended to identify those
assertions as forward-looking statements.
FCX cautions readers that forward-looking statements are not
guarantees of future performance and actual results may differ
materially from those anticipated, expected, projected or assumed
in the forward-looking statements. Important factors that can cause
FCX's actual results to differ materially from those anticipated in
the forward-looking statements include, but are not limited to, the
factors described under the heading “Risk Factors” in FCX's Annual
Report on Form 10-K for the year ended December 31, 2019, and
subsequent Quarterly Report on Form 10-Q for the quarter ended
September 30, 2020, each filed with the U.S. Securities and
Exchange Commission (SEC), as updated by FCX’s subsequent filings
with the SEC.
Investors are cautioned that many of the assumptions upon which
FCX's forward-looking statements are based are likely to change
after the forward-looking statements are made. Further, FCX may
make changes to its business plans that could affect its results.
FCX cautions investors that it does not intend to update
forward-looking statements more frequently than quarterly
notwithstanding any changes in its assumptions, changes in business
plans, actual experience or other changes, and FCX undertakes no
obligation to update any forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20201210005528/en/
Financial Contacts: Kathleen L. Quirk (602) 366-8016 David P.
Joint (504) 582-4203 Media Contact: Linda S. Hayes (602)
366-7824
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