Freeport-McMoRan Inc. announced that the Peruvian Government has issued a Supreme Decree and declaration of a National Emergency in its efforts to contain the outbreak of COVID-19. To comply with the government’s requirements, Cerro Verde has temporarily transitioned to a care and maintenance status for a 15-day period which commenced on March 16, 2020. During this period, onsite personnel will be limited to critical activities necessary to maintain the facilities pending a return to normal operations.

Freeport-McMoRan owns 53.56 percent of Cerro Verde, which operates one of the world’s largest concentrating facilities near Arequipa, Peru. In 2019, Cerro Verde produced 1 billion lbs of copper and 29 million lbs of molybdenum.

Cerro Verde will work closely with government authorities to be prepared to restart operations as soon as possible.

Freeport-McMoRan is a leading international mining company with headquarters in Phoenix, AZ. Freeport-McMoRan operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. Freeport-McMoRan is one of the world’s largest publicly traded copper producers.

Freeport-McMoRan’s portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world's largest copper and gold deposits; and significant mining operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru.