Freeport-McMoRan 2009 Annual Report Download - page 13
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Reserves
As of December 31, 2009, FCX’s estimate of
consolidated recoverable proven and probable
reserves totaled 104.2 billion pounds of copper,
37.2 million ounces of gold and 2.6 billion
pounds of molybdenum. Net reserve additions
of 6.3 billion pounds of copper and 0.16 billion
pounds of molybdenum replaced approximately
150 percent of 2009 copper production and
approximately 300 percent of 2009 molybdenum
production. Estimated recoverable reserves were
determined using long-term average prices of
$1.60 per pound for copper, $550 per ounce
for gold and $8 per pound for molybdenum.
Sustainable Development
The world depends on the metals FCX produces
to sustain and expand economic opportunity and
growth. As one of the world’s major producers of
copper, gold and molybdenum, FCX recognizes
the importance of providing these metals in a
responsible manner. FCX has a long-standing
history of addressing complex social, economic
and environmental challenges proactively. FCX
has established company-wide performance
targets to address sustainability issues identied
by internal and external stakeholders. As a
founding member of the International Council on
Mining and Metals (ICMM), FCX endorses the
ICMM’s Sustainable Development Framework
and 10 Sustainable Development Principles.
FCX reports its performance according to the
Global Reporting Initiative (GRI) Sustainability
Reporting Guidelines, version 3.0 (G3).
FCX’s 2009 Working Toward Sustainable
Development report will be available
on FCX’s web site at www.fcx.com upon
completion of third-party assurance.
11
FREEPORT-McMoRan COPPER & GOLD INC.
2009 Annual Report