XML 98 R47.htm IDEA: XBRL DOCUMENT v3.3.1.900
SUPPLEMENTARY MINERAL RESERVE INFORMATION (UNAUDITED) (Tables)
 12 Months Ended
Dec. 31, 2015
Supplementary Mineral Reserve Information [Abstract]  
Estimated Recoverable Proven and Probable Reserves by Location
 
Recoverable Proven and Probable Mineral Reserves

 
Estimated at December 31, 2015
 
Coppera
(billion pounds)
 
Gold
(million ounces)
 
Molybdenum
(billion pounds)
North America
33.5

 
0.3

 
2.38

South America
30.8

 
—

 
0.67

Indonesiab
28.0

 
26.8

 
—

Africa
7.2

 
—

 
—

Consolidatedc
99.5

 
27.1

 
3.05

 
 
 
 
 
 
Net equity interestd
79.3

 
24.6

 
2.73

a.
Consolidated recoverable copper reserves included 3.8 billion pounds in leach stockpiles and 1.0 billion pounds in mill stockpiles.
b.
Recoverable proven and probable reserves reflect estimates of minerals that can be recovered through the end of 2041 (refer to Note 13 for discussion of PT-FI's COW).
c.
Consolidated reserves represent estimated metal quantities after reduction for joint venture partner interests at the Morenci mine in North America and the Grasberg minerals district in Indonesia (refer to Notes 3 and 18 for further discussion of FCX's joint ventures). Excluded from the table above were FCX’s estimated recoverable proven and probable reserves of 0.87 billion pounds of cobalt at Tenke and 271.2 million ounces of silver in Indonesia, South America and North America, which were determined using long-term average prices of $10 per pound for cobalt and $15 per ounce for silver.
d.
Net equity interest reserves represent estimated consolidated metal quantities further reduced for noncontrolling interest ownership (refer to Note 3 for further discussion of FCX's ownership in subsidiaries). Excluded from the table above were FCX’s estimated recoverable proven and probable reserves of 0.49 billion pounds of cobalt at Tenke and 221.6 million ounces of silver in Indonesia, South America and North America.
Supplementary Reserve Information at 100% Basis by Location
 
 
Recoverable Proven and Probable Mineral Reserves
 
 
Estimated at December 31, 2015
 
 
 
 
Average Ore Grade
Per Metric Tona
 
Recoverable Proven and
Probable Reservesb
 
 
Orea
(million metric tons)
 
Copper (%)
 
Gold (grams)
 
Molybdenum (%)
 
Copper
(billion pounds)
 
Gold
(million ounces)
 
Molybdenum
(billion pounds)
North America
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Developed and producing:
 
 
 
 
 
 
 
 
 
 
 
 
Morenci
 
3,574

 
0.27
 
—

 
—
c 
14.1

 
—

 
0.17

Bagdad
 
1,253

 
0.33
 
—

c 
0.02
 
7.6

 
0.1

 
0.38

Safford
 
84

 
0.43
 
—

 
—
 
0.8

 
—

 
—

Sierrita
 
2,319

 
0.23
 
—

c 
0.03
 
10.2

 
0.1

 
1.04

Miami
 
—

 
—
 
—

 
—
 
0.1

 
—

 
—

Chino
 
237

 
0.45
 
0.02

 
—
c 
2.2

 
0.1

 
0.01

Tyrone
 
13

 
0.42
 
—

 
—
 
0.3

 
—

 
—

Henderson
 
81

 
—
 
—

 
0.17
 
—

 
—

 
0.25

Climax
 
178

 
—
 
—

 
0.15
 
—

 
—

 
0.55

Undeveloped:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cobre
 
79

 
0.35
 
—

 
—
 
0.3

 
—

 
—

South America
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Developed and producing:
 
 
 
 
 
 
 
 
 
 
 
 
Cerro Verde
 
3,856

 
0.37
 
—

 
0.01
 
28.2

 
—

 
0.67

El Abra
 
399

 
0.44
 
—

 
—
 
2.6

 
—

 
—

Indonesiad
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Developed and producing:
 
 
 
 
 
 
 
 
 
 
 
 
Deep Mill Level Zone
 
460

 
0.89
 
0.74

 
—
 
7.9

 
8.7

 
—

Grasberg open pit
 
129

 
1.08
 
1.29

 
—
 
2.7

 
4.5

 
—

Deep Ore Zone
 
116

 
0.56
 
0.69

 
—
 
1.2

 
2.0

 
—

Big Gossan
 
54

 
2.26
 
0.99

 
—
 
2.5

 
1.1

 
—

Undeveloped:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Grasberg Block Cave
 
962

 
1.03
 
0.78

 
—
 
18.4

 
15.6

 
—

Kucing Liar
 
395

 
1.27
 
1.09

 
—
 
9.4

 
6.4

 
—

Africa
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Developed and producing:
 
 
 
 
 
 
 
 
 
 
 
 
Tenke Fungurume
 
99

 
3.19
 
—

 
—
 
7.2

 
—

 
—

Total 100% basis
 
14,288

 
 
 
 
 
 
 
115.7

 
38.6

 
3.07

Consolidatede
 
 
 
 
 
 
 
 
 
99.5

 
27.1

 
3.05

FCX’s equity sharef
 
 
 
 
 
 
 
 
 
79.3

 
24.6

 
2.73

a.
Excludes material contained in stockpiles.
b.
Includes estimated recoverable metals contained in stockpiles.
c.
Amounts not shown because of rounding.
d.
Recoverable proven and probable reserves reflect estimates of minerals that can be recovered through the end of 2041 (refer to Note 13 for discussion of PT-FI's COW).
e.
Consolidated reserves represent estimated metal quantities after reduction for joint venture partner interests at the Morenci mine in North America and the Grasberg minerals district in Indonesia. Refer to Notes 3 and 18 for further discussion of FCX's joint ventures.
f.
Net equity interest reserves represent estimated consolidated metal quantities further reduced for noncontrolling interest ownership. Refer to Note 3 for further discussion of FCX's ownership in subsidiaries.