Freeport-McMoRan 2011 Annual Report Download - page 114

Download and view the complete annual report

Please find page 114 of the 2011 Freeport-McMoRan annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 118

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118

112 | FREEPORT-McMoRan COPPER & GOLD INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTSNOTES TO CONSOLIDATED FINANCIAL STATEMENTS
100% Basis
Average Ore Grade Recoverable Proven and
Per Metric Ton Probable Reserves
Ore Copper Gold Molybdenum
(million Copper Gold Molybdenum (billion (million (billion
Year-End metric tons) (%) (grams) (%) pounds) ounces) pounds)
2007 12,224 0.51 0.20 0.01 110.4 54.1 2.04
2008 14,067 0.48 0.17 0.01 118.8 53.4 2.49
2009 13,807 0.49 0.17 0.01 120.9 49.8 2.60
2010 18,516 0.42 0.12 0.01 137.9 47.9 3.41
2011 17,739 0.43 0.12 0.01 136.7 46.1 3.43
By Area at December 31, 2011:
North America
Developed and producing:
Morenci 4,250 0.27 — —
b
15.6 — 0.09
Bagdad 1,629 0.30 —
b
0.02 8.7 0.1 0.40
Safford 206 0.43 — — 1.6 — —
Sierrita 2,777 0.23 —
b
0.03 12.1 0.1 1.24
Tyrone 148 0.29 — — 0.7 — —
Chino 421 0.42 0.02 —
b
3.5 0.2 0.01
Miami 60 0.47 — — 0.5 — —
Henderson 121 — — 0.17 — — 0.40
Undeveloped:
Climax 187 — — 0.16 — — 0.58
Cobre 73 0.39 — — 0.3 — —
South America
Developed and producing:
Cerro Verde 3,977 0.39 — 0.01 30.2 — 0.71
El Abra 881 0.42 — — 4.3 — —
Candelaria 339 0.58 0.13 — 4.5 1.2 —
Ojos del Salado 6 1.00 0.25 — 0.1 0.1 —
Indonesia
Developed and producing:
Grasberg open pit 312 0.85 0.91 — 4.9 7.3 —
Deep Ore Zone 206 0.57 0.69 — 2.2 3.5 —
Big Gossan 56 2.18 0.97 — 2.4 1.2 —
Undeveloped:
Grasberg block cave 1,019 0.98 0.77 — 18.7 16.3 —
Kucing Liar 420 1.23 1.09 — 9.7 6.8 —
Deep Mill Level Zone 510 0.85 0.72 — 8.3 9.3 —
Africa
Developed and producing:
Tenke Fungurume 141 3.00 — — 8.4 — —
Total 100% basis 17,739 136.7 46.1 3.43
Consolidated basis
c
119.7 33.9 3.42
FCX’s equity share
d
96.1 30.6 3.09
a. Includes estimated recoverable metals contained in stockpiles.
b. Amounts not shown because of rounding.
c. Consolidated basis reserves represent estimated metal quantities after reduction for joint venture partner interests at the Morenci mine in North America and the Grasberg minerals district
in Indonesia.
d. Net equity interest reserves represent estimated consolidated basis metal quantities further reduced for noncontrolling interest ownership.
a