Copper concentrate is the most basic form of copper product sold by Freeport-McMoRan. We are one of world's leading producers of copper concentrate.
In North America, Freeport-McMoRan owns and operates four sulfide containing mines, Bagdad, Chino, Morenci and Sierrita. The majority of this concentrate production is shipped to the company's smelter in Miami Arizona, where anodes are produced. These anodes are then sent to the electrolytic refinery in El Paso, Texas where they are used to produce copper cathode.
The world class Grasberg complex, located in the province of Papua, Indonesia produces copper concentrate through Freeport-McMoRan’s affiliate, PT Freeport Indonesia. Approximately 50% of PT Freeport Indonesia concentrates are sold to affiliated smelters, Atlantic Copper, located in Spain and PT Smelting, located in Indonesia. The balance of the concentrate produced is sold primarily under long-term sales agreements mostly to major smelting companies in Asia. The concentrates produced in Indonesia generally contain 27 to 30 percent copper and approximately one ounce of gold per ton and are utilized as a base feed for many smelters in the industry.
Copper concentrate produced at the mines in North and South America generally contain 25 percent to 31 percent copper and is the resulting product after mine ore (containing less than 1 percent copper) has been crushed, milled and concentrated. One of Freeport-McMoRan's largest South American concentrate producing mines, Candelaria, is located in Chile and is well known in the industry for its excellent quality and consistency. Located close by, Freeport-McMoRan also operates the underground copper mines Santos and Alcaparrosa, which produces similar quality concentrate. The majority of this concentrate production is shipped to Asian smelters under long-term contracts. Freeport-McMoRan owns and operates a modern, state-of-the art ocean shipping port located just a few miles from the mine. Additionally, FCX has controlling interest in the Cerro Verde mine located southwest of Arequipa, Peru. Cerro Verde processes 120,000 MT of sulfide ore per day through its concentrator.
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