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Introduction |
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Welcome
to the Freeport-McMoRan Copper
& Gold Inc.'s |
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Inside Front Cover photo: Hundreds of plant species have naturally recolonized in portions of PT Freeport Indonesia’s tailings deposition area. In other parts of the tailings deposition area, we have demonstrated that forestry and agriculture can be successful on the soil containing tailings, the finely ground natural rock residue from our milling process. |
Letter
to StakeholdersTo Our Stakeholders
We recognize that this economic need must be balanced with social and environmental needs so that, in meeting the demands of the present generation, we do not impair the lives of future generations. This is the core concept of sustainable development. At Freeport-McMoRan Copper & Gold Inc., PT Freeport Indonesia and Atlantic Copper, we embrace this responsibility both as our duty as corporate citizens and as a sound and prudent business practice. Working toward sustainable development in our business operations and programs helps ensure a healthy environment and communities in our areas of operation, which is vital to our future success.
We have a strong Environmental Policy and Social, Employment and Human Rights Policy that guide us on the path toward sustainable development. As operators of one of the world’s greatest mines, we recognize the significant challenges we must overcome to stay on that path. Our mining operations impact the surrounding environment and neighboring communities. It is our responsibility and commitment to minimize and mitigate environmental impacts and to maximize the beneficial economic and social results of our operations.
This is not a static commitment expressed through rigid programs. We are committed to continuous improvement in our sustainable development performance. This means we assess our environmental management and social development programs annually in a constant search for better ways of doing things. In this regard, we do not rely solely on our own judgment, having learned from experience the value of looking at our programs through a “fresh set of eyes” with independent audits. During 2005, we voluntarily submitted to an independent audit of our environmental management systems by the internationally recognized firm of Montgomery Watson Harza and received the results of an independent audit of our social and human rights programs by the International Center for Corporate Accountability. The results of these audits, which were made public, provided us with invaluable insights and numerous recommendations, now being implemented, that will improve our sustainable development performance.
ensure mutual success.
Our financial commitment to sustainable development is significant. We invested $84 million in sustainable development programs during 2005 alone, including $20 million on environmental management and $64 million on social development. But monetary amounts cannot begin to convey the significance of our environmental programs or the beneficial impacts of our educational, healthcare, social and economic development programs on neighboring communities in Papua. This Working Toward Sustainable Development Report documents these efforts.
In addition, this report seeks to put human faces on these programs by introducing you to Dr . Otto Soemarwoto and the other members of the PT Freeport Indonesia Sustainable Development Advisory Council, who will help direct our progress toward sustainable development; John Nakiaya, the Papuan who leads the community development agency funded by our operations, one of the largest privately funded social development programs in Southeast Asia; Tukini, the nurse supervisor at Banti/Waa Hospital, one of two hospitals funded by Freeport; Bertha You, a young Papuan woman successfully operating a pharmacy she started with assistance from our business development programs; Benny Gobay, a community liaison officer monitoring the progress of housing and community facilities being built by PT Freeport Indonesia in highlands villages and Dr. Rusdian Lubis, a former senior environmental specialist for the World Bank who now heads PT Freeport Indonesia’s environment, safety and health programs .
These are just a few of the people helping keep us on the path toward sustainable development. They share our commitment and together we are working for a bright future for all our stakeholders.
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James R. Moffett Chairman of the Board April 20, 2006 |
Richard C. Adkerson President and Chief Executive Officer |
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Inside Back Cover photo: A bridge in the Mimika Regency community of Paumako was constructed using tailings as a primary component of the concrete. Ongoing studies demonstrate the effectiveness of tailings in many such applications. |