Social Performance Policy

Freeport-McMoRan Inc. ("Freeport") conducts its activities in a manner that promotes productive and transparent relationships and seeks to build trust with communities, governments, and civil society organizations. We respect the rights of all stakeholders and our approach to social performance is grounded in collaborative engagement from the international to local operating levels. We are committed to mitigating and remedying adverse impacts we may cause while jointly pursuing opportunities that maximize and sustain social and economic benefits.

We maintain management systems that identify and respond to community-related risks and adverse impacts. These systems are supported by multiple processes including grievance mechanisms, social baseline studies and risk evaluations, human rights impact assessments and strategic stakeholder mapping. We strive to engage prior to and during the earliest stages of project development and throughout the project lifecycle via culturally appropriate, inclusive processes with affected stakeholders and their representatives. This includes consistently providing timely information and receiving feedback regarding our operational activities. When community resettlement is unavoidable, we conduct such activities in alignment with international best practice.

We proactively collaborate with project-affected communities, with an integral focus on Indigenous Peoples and vulnerable groups, seeking outcomes based in creating shared value. We respect the cultural heritage, tangible and intangible cultural values, interests, livelihoods and aspirations of Indigenous Peoples including their physical, spiritual and cultural connection with the land and local environment. We aim to build mutual trust through continuous long-term engagement to better understand local customs, cultures, social priorities and imminent or emerging concerns: we endeavor to mitigate mutually identified impacts. We are committed to implementing the ICMM Position Statement on Indigenous Peoples and Mining and seek to achieve the free, prior and informed consent (FPIC) of affected Indigenous communities where adverse impacts are likely to occur.

We contribute to the social, economic and institutional development of host communities to their strengthen capacity and resilience in a manner that facilitates inclusion. We collaborate with project-impacted communities, civil society organizations and local governments to design, implement and evaluate socioeconomic development interventions that seek to maximize the benefits of mining including post-closure. We strive to align our social investment priorities with the objectives of local stakeholders; these include education, skills and livelihood development initiatives, leadership and institutional capacity building opportunities, health and wellbeing programs, cultural and environmental conservation projects as well as infrastructure improvements that aid in climate adaptation.

Our social performance approach aligns with our core values of safety, respect, integrity, excellence and commitment, and are reflected in our Principles of Business Conduct and other Freeport policies. This Policy applies to all Freeport projects and operations, from exploration to project closure. We expect our suppliers of goods and services to operate in accordance with this policy. Freeport will evaluate implementation of this policy through internal and external assessments and will report on our performance.
This Policy may be amended or supplemented from time to time by management and will be submitted periodically to the Corporate Responsibility Committee of the Board of Directors for review and approval.