Freeport-McMoRan is a company built on innovation. Whenever we face a challenge or an opportunity, we confront it together with zeal and creativity. We developed Grasberg on the top of a mountain in the rainforest. We invented and continue to reinvent copper leaching. We co-developed dispatch. The list goes on and on!

Once again, we are challenged, and opportunity awaits. At most of our Americas’ sites, grades are declining, and haul distances are getting longer. If we don’t act, these sites will become uncompetitive. However, our own teams – along with subject matter experts – have identified a suite of new processes and technologies that, when combined, have enormous potential.

It’s time to Reinvent Mining.

Reinvent Mining isn’t about a single new technology. It’s not just autonomous. It’s not just a new mill flow sheet. It’s not just AI. It’s going to take re-thinking the entire work stream, including the technologies we use as well as the processes we have in place. This is a concept we call systems thinking – thinking about how all these people, processes and technologies, end-to-end, come together in a way that the whole is greater than the sum of the parts.

Delivering on Reinvent Mining is going to require us to work in a new way. This isn’t like building a new mine from scratch where you have a blank sheet of paper, take proven technologies and spend years on construction and commissioning. We have operating assets that need to continue making copper, and we’re evaluating a short list of technologies that include both “shovel ready” solutions, as well as technologies that will take further development.

We must “build the plane while we’re flying it,” and we must both develop and deploy technologies across the value chain in a way no other miner has. And, we don’t have 10-plus years to wait. We need to act now.

When we deliver on Reinvent Mining, the impact will be big and will benefit the whole company as well as our stakeholders. We believe it will expand reserves, extend the lives of our assets, improve the working conditions of our people and have a positive impact on our communities.

One thing I am certain of: Mining 20 years from now is going to look completely different from today. I’m confident with our people and our history, Freeport will be the company that leads the way.

Let’s make some copper!