Phoenix-based Freeport-McMoRan was founded more than 100 years ago in Freeport, Texas, as a sulfur-mining company. The company merged in 1981 with McMoRan Oil and Gas as a fossil fuel and mining conglomerate under the Freeport-McMoRan name. In more recent years, the company has focused its business on metals mining, specifically with a goal of becoming the world leader in copper, which is growing in demand because of its use in renewable energy, electric vehicles, data centers, and more. With a global mining footprint throughout the Americas—from Arizona to Chile—and in Indonesia, Freeport also mines heavily in gold and molybdenum, which is used in steel and other alloys.
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