Freeport-McMoRan 2013 Annual Report Download - page 6

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Consistent with our Board’s long-standing tradition of providing cash returns to shareholders, we paid
more than $2 billion in common stock dividends during 2013 ($2.25 per share), including a $1 per
share special dividend. Including dividends, our total shareholder return for 2013 was 17 percent.
During the year, we continued to build on our relationships and partnerships with governments
and stakeholders in the communities where we operate. We are committed to sustainable
development and to providing significant long-term benefits from our operations to local
communities and governments. As we work to resolve our current challenge in Indonesia, we
are positive about our long-term partnership with the country and the future prospects of the
Grasberg minerals district.
As an organization, we continue to mourn the loss of 28 workers who were fatally injured during
2013 in an underground training facility near our Indonesian mining operations and seven others
lost in separate tragic accidents. The safety of our people continues to be our highest priority and
a critical focus of our entire management team and global organization.
We want to honor our co-founder B.M. “Mack” Rankin, who served as Vice Chairman and a
member of our Board of Directors prior to his passing in August 2013. We are grateful for his
long-term service and significant contributions to FCX’s success.
During 2013, the independent directors of our Board appointed Gerald J. Ford to the newly created
position of lead independent director. We also welcomed five new members to our Board during the
year, including James C. Flores, Alan R. Buckwalter, III and Thomas A. Fry, III following the oil
and gas acquisitions and Lydia H. Kennard and Frances Fragos Townsend in December 2013.
We remain focused on executing our strategy of delivering safe, strong and efficient operational
and project development performance to provide cash flows to achieve our debt reduction targets,
generate attractive returns through organic growth and continue our long-standing tradition of
providing cash returns to shareholders.
In closing, we would like to thank our employees for their hard work, dedication and
commitment to FCX’s success and extend our sincerest gratitude to our Board for their wisdom,
judgment and advice as we work to achieve continued success in the future.
Respectfully yours,
Photo: Mill/Concentrator expansion at Cerro Verde, Peru
JAMES R. MOFFETT
Chairman of the Board
RICHARD C. ADKERSON
Vice Chairman of the Board
President and
Chief Executive Ofcer
JAMES C. FLORES
Vice Chairman of the Board
President and Chief Executive Ofcer
Freeport-McMoRan Oil & Gas LLC
March 20, 2014
4 | FREEPORT-McMoRan