Copper Mark Achieved at all Copper Producing Sites
21 February 2023
PHOENIX – Freeport-McMoRan Inc. (NYSE: FCX) is pleased to announce the Copper Mark has been awarded to PT Freeport Indonesia (PT-FI).With this award, FCX has achieved the Copper Mark at all 12 of its eligible copper producing sites globally.
Richard C. Adkerson, Chairman and Chief Executive Officer, said, “I am pleased to report today that all of our copper operating sites have now been validated by the Copper Mark. As the operator of 9% of the world's copper production, we have a long-standing commitment to safe and responsible production practices and are dedicated to continuous improvement. We recognize the critical role our products play in the global economy and in advancing and accelerating decarbonization. I am proud of our team for their accomplishments and ongoing commitment to responsible production practices.”
The Copper Mark is a comprehensive assurance framework designed to demonstrate the copper industry's responsible production practices. In fourth-quarter 2022, the Copper Mark announced an extension of its framework to include molybdenum producers, among other metal producers. In addition to its primary mines, FCX’s four copper mines that produce byproduct molybdenum (Bagdad, Cerro Verde, Morenci and Sierrita) have also been awarded the Molybdenum Mark.
To achieve the Copper Mark and Molybdenum Mark each site is required to complete a robust, independent external assurance process to assess conformance with 32 environmental, social and governance requirements. Awarded sites are required to be revalidated every three years.
The Copper Mark seeks to promote transparency and accountability especially for sites that manage complex issues. The Copper Mark recognizes the unique site-specific considerations of PT-FI’s tailings management system. The extensive, independent onsite assessment of PT-FI confirmed the site’s full conformance with the current Copper Mark tailings requirements. The Copper Mark is in the process of developing additional guidance for participating sites with complex issues and PT-FI looks forward to working with them to demonstrate ongoing conformance of its tailings management system.
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