Sustainable Development > Economic Performance > Philanthropic Donations Philanthropic Donations |
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Freeport-McMoRan Copper & Gold Inc. has substantial philanthropic programs in place globally in furtherance of our commitment to strong communities. Combined contributions for the company worldwide attributable to 2007 totaled more than $100 million. The majority of these donations represent a portion of our revenues in Indonesia that are directed to benefit the local community through the Freeport Partnership Fund for Community Development. Since 1996, this fund has helped build schools and dormitories, hospitals, places of worship, housing and community facilities in our area of operations in Papua. The fund also supports a comprehensive series of health and educational programs and training and income generation initiatives so that Papuans benefit from the economic development taking place in the area. The partnership fund is administered and disbursed by LPMAK, the Amungme and Kamoro Community Development Institution. LPMAK is managed by a Board of Commissioners consisting of representatives from the local government, Papuan regional leaders, leaders from the local Amungme and Kamoro communities and PT Freeport Indonesia. Contributions to the Partnership Fund, attributable to our operations in 2007, including the share of our joint venture partner, Rio Tinto plc, totaled $53 million. Total contributions to the fund since inception are nearly $300 million. In 2007, a BusinessWeek magazine survey of the philanthropic activities of American companies named Freeport-McMoRan Copper & Gold Inc. as one of the U.S.’s most philanthropic companies, in terms of cash contributed as a percentage of revenues. Twice in recent years, BusinessWeek has named Freeport-McMoRan Copper & Gold Inc. the top philanthropic company in the U.S. For information on Indonesia community programs, please see our latest Working Toward Sustainable Development publication. |
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