VOL. 08 | ISSUE 1 | Spring 2025
Freeport Reports Fourth-Quarter and Year Ended 2024 Results
On January 23, Freeport reported fourth-quarter 2024 net income attributable to common stock of $274 million, $0.19 per share, and adjusted net income attributable to common stock of $450 million, $0.31 per share, after excluding net charges totaling $176 million, $0.12 per share, primarily associated with adjustments to asset retirement obligations, charges associated with legacy oil and gas properties and metals inventory adjustments.
Richard Adkerson, Chairman of the Board, and Kathleen Quirk, President and Chief Executive Officer, said, “We enter 2025 with a clear focus on continued strong execution of our operating plans, enhancing productivity, managing costs and capital, and advancing opportunities for long-term profitable growth and value creation. Our global team delivered solid results in 2024, and we are strongly positioned for the future with high-quality, large-scale copper assets, attractive organic growth options, successful track record of our team and a strong balance sheet. Copper’s role in the global economy is increasingly important, and Freeport is well positioned for the future as a global industry leader.”
Freeport Named One of America’s 100 Most JUST Companies for the Sixth Time
Freeport’s commitment to helping its workers thrive helped earn it recognition as one of America’s Most JUST Companies for the third consecutive year in annual rankings by Just Capital.
Freeport finished 60th overall and first in the Basic Resources category. This is the sixth year since 2018 – and the third consecutive year – that Freeport has made the annual list. It also has been the industry leader in all but one year since 2019, including each of the past three years.
Freeport Recognized as One of America’s Best Large Employers
For the second consecutive year, Freeport has earned a spot on the Forbes America’s Best Large Employers list for 2025, thanks to high marks from both current and former employees who recognize it as one of the best places to work in the U.S.
This annual ranking, compiled by Forbes and market research firm Statista, is based on a survey of more than 217,000 employees across various industries. Participants – both current and former employees – evaluated their companies on compensation, work environment, job growth opportunities and other factors related to overall job satisfaction.
Employees Raise More Than $12 million
Through United Way Campaign
Last year’s United Way campaign theme embraced the spirit of Freeport’s Proudly Creating Better Futures, and that’s just what employees achieved.
Employees pledged nearly $4.7 million, which, when combined with the company match, raised more than $12 million to support United Way in our local communities. The company double matches employee contributions of $25 or more up to the first $1,000 and
single matches amounts more than $1,000.
“This incredible effort showcases the power of our collective commitment to making a meaningful difference,” said Tracy Bame, President, Freeport-McMoRan Foundation and Director-Corporate Social Performance and Community Development.
Freeport Joins Global, Industry-Sponsored Research on Mine Safety
With its entrance into an international industry initiative, Freeport is demonstrating that safety is a commitment – not a competition.
Last year, Freeport pledged to support the fourth edition of the Large Open Pit Project, a collaborative endeavor aimed at improving safety in open pit mining operations. Freeport joins BHP, Rio Tinto and a host of other mining companies in the effort.
Since 2005, this initiative has garnered backing from industry leaders worldwide. Over its three previous research cycles, the project has developed guidelines on the design of open pit slopes, stockpiles and mine waste dumps as well as evaluating water on slope stability and slope monitoring.
New Mexico Operations Recognized for Contributions to Community
In New Mexico, site leadership is proving that success isn’t just about what’s extracted from a mine – it’s also about what’s given back.
At an annual legislative forum, the Grant County Prospectors took time to recognize the transformative contributions Freeport’s operations have made to their community. The Prospectors are a coalition of community leaders and business professionals dedicated to informing policymakers about the needs of Grant County, which is home to both the Chino and Tyrone mines.
New Roles
Grant Egginton
General Manager-Sierrita. His previous role was Mine Manager-Sierrita. Egginton succeeds David Rhoades, who announced his retirement in February after 32 years with the company.