Freeport-McMoRan 2008 Annual Report Download - page 110

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Notes to Consolidated Financial Statements
108 FREEPORT-McMoRan COPPER & GOLD INC. 2008 Annual Report
100% Basis
Recoverable Proven and
and Probable Reserves
Ore Average Ore Grade Per Metric Ton Copper Gold Molybdenum
(million Copper Gold Molybdenum (billion (million (million
Year-End metric tons) (%) (grams) (%) pounds) ounces) pounds)
2004 2,769 1.09 0.97 N/A 56.2 61.0 N/A
2005 2,822 1.07 0.92 N/A 56.6 58.0 N/A
2006 2,813 1.04 0.90 N/A 54.8 54.3 N/A
2007 12,224 0.51 0.20 0.01 110.4 54.1 2,042
2008 14,067 0.48 0.17 0.01 118.8 53.4 2,485
By Area at December 31, 2008:
North America
Developed and producing:
Morenci 2,813 0.28 – 0.002 10.1 – 27
Sierrita 1,473 0.26 –
a
0.029 7.1 0.1 769
Bagdad 1,051 0.30 –
a
0.015 5.3 0.1 252
Safford 450 0.38 – – 2.6 – –
Tyrone 334 0.29 – – 1.4 – –
Henderson 149 – – 0.176 – – 502
Chino
b
143 0.52 0.01 0.005 2.3 –
a
6
Miami
b
91 0.43 – – 0.6 – –
Undeveloped:
Climax 165 – – 0.165 – – 532
Cobre 73 0.39 – – 0.4 – –
South America
Developed and producing:
Cerro Verde 3,023 0.37 – 0.012 21.6 – 397
El Abra 1,120 0.45 – – 5.5 – –
Candelaria 391 0.55 0.11 – 4.9 1.3 –
Ojos del Salado 8 1.12 0.27 – 0.2 –
a
–
Indonesia
Developed and producing:
Grasberg open pit 384 0.97 1.17 – 7.1 12.0 –
Deep Ore Zone
c
282 0.62 0.67 – 3.3 4.6 –
Undeveloped:
Grasberg block cave 1,007 1.02 0.81 – 19.4 17.7 –
Kucing Liar 441 1.24 1.09 – 10.3 7.1 –
Deep Mill Level Zone
d
494 0.89 0.75 – 8.3 9.1 –
Big Gossan 56 2.23 1.18 – 2.5 1.4 –
Africa
Undeveloped:
Tenke Fungurume
e
119 2.64 – – 5.9 – –
Total 100% basis 14,067 118.8 53.4 2,485
Consolidated basis 102.0 40.0 2,482
FCX’s equity share 82.4 36.2 2,297
a. Amounts not shown because of rounding.
b. Mining operations suspended as of December 31, 2008.
c. In 2007, FCX combined the Deep Ore Zone and Ertsberg Stockwork Zone reserves, which FCX now refers to as the Deep Ore Zone.
d. In 2007, FCX combined the Mill Level Zone and Deep Mill Level Zone reserves, which FCX now refers to as the Deep Mill Level Zone.
e. Recoverable proven and probable reserves also include 0.7 billion pounds of recoverable cobalt on a 100 percent basis (0.4 billion pounds on an equity share basis) with an average
ore grade of 0.35 percent.