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Community Investment

Freeport-McMoRan’s community investment strategy addresses high-priority needs and facilitates local capacity building to sustain communities post-closure. Our social investment criteria are a set of guidelines designed to ensure that resources are used effectively to decrease community dependencies on our operations and promote sustainable futures.

In addition to direct community investment from operations and the corporate Freeport-McMoRan Foundation, we have established community trust funds or social funds in Chile, the DRC, Indonesia, Peru and the U.S. These foundations are managed by community members who determine the allocation of funds to programs that focus on education, health and economic development.

During 2015, we continued our support of improvement in science, technology, engineering and mathematics (STEM) education through teacher development and retention initiatives, programs to spark student interest and efforts to strengthen STEM education systems. We launched an initiative in the U.S. specifically aimed at professional development for elementary and middle school math teachers in rural school districts near our operations to increase their content knowledge and confidence in teaching math so students can master core mathematical concepts by the eighth grade. We also invested significantly in higher education programs that trained students in the trades, as well as four-year degree programs related to our business needs. Our focus on STEM is aligned with the long-term technical requirements of our business, as well as outdoor environmental education opportunities near most of our operations.

We have also advanced our investments in women’s economic empowerment programs, such as “DreamBuilder–The Women’s Business Creator,” an online entrepreneurship skills training program that has reached more than 11,460 women in 47 countries around the world via a network of 75 dedicated partners on the ground. Of the women enrolled, 94 percent are from countries in our focus area of Latin and North America and 6 percent are from other parts of the world. Impact evaluation of graduates over a year after graduation indicated that 92 percent increased sales, 44 percent hired new employees, and 66 percent paid themselves a salary versus only 18 percent who did so before participating in the program. Other empowerment initiatives included an agricultural training program in the DRC in partnership with Women for Women International, as well as PTFI’s mother and child clinics.

Through philanthropy and volunteerism, our employees are dedicated to making our communities better places to live and work. Freeport-McMoRan employees in the U.S. helped raise more than $2.9 million during the company’s 2015 United Way campaign and when combined with the company’s Matching Gifts program, a record total of more than $7.6 million was raised. In April 2015, nearly 1,000 employees, their families and friends volunteered during the company’s 13th annual Global Volunteer Month to support the current and long-term development, wellbeing and future potential of their communities.

Community Trust Funds

($ millions)
Year
Started
2015
Contributions
Contributions
Through 2015
PTFI Partnership Fund (Indonesia)
1996  
$ 27.0
$  660.0 
Freeport-McMoRan Foundation (U.S. / some international)
2007a
$ 13.5
$  109.0 
Cerro Verde Civil Association (Peru)
2008  
-
$ 132.0c
TFM Social Community Fund (DRC)
2009  
$   3.7
$   23.6  
North America Community Investment Funds (AZ, CO, NM)
2009b
$   2.6
$   11.2  
Fundación Freeport-McMoRan (Chile)
2013  
$   1.8
$     3.3  
Note: Amounts exclude social expenditure from operating budgets
a. There were two separate foundations prior to the acquisition of Phelps Dodge in 2007. Totals reported only reflect the time period from the acquisition forward (2007-2015) when all resources were combined.
b. In 2009, there was one Community Investment Fund. One to two Funds were established each year thereafter, with six in total by 2013.
c. From 2008-2011, Cerro Verde contributed $132 million to the Cerro Verde Civil Association. The Association manages these contributions for projects in the Arequipa Region, ranging from education to basic infrastructure.



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