Morenci — copper & molybdenum mine

Open-pit copper and molybdenum mining complex in Greenlee County, Arizona, ~50 miles northeast of Safford; in continuous operation since 1939 (underground mining from the 1880s; Phelps Dodge acquired by FCX in 2007). FCX holds a 72% undivided interest; Sumitomo Metal Mining Arizona (15%) and SMM Morenci (13%) take production in kind. Porphyry copper deposit with oxide, secondary sulfide (chalcocite) and primary sulfide (chalcopyrite, molybdenite) mineralization. Two concentrators (132,000 t/d design), 72,500 t/d crushed-ore leach pad, ROM leaching, four SX plants and three EW tank houses (~900 Mlb/yr cathode capacity). Mining fleet moves ~803,000 t/d. Property covers ~61,700 acres. One of FCX's three SEC S-K 1300 material properties (TRS Exhibit 96.3, Dec 31, 2025); 2025 mineral resources materially changed vs 2023 TRS. Net PP&E $2.3B.