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Freeport-McMoRan Inc

FCX

Materials

3

exclusion reasons

2 themes

Environmental Harm (2) Indigenous Rights (1)
FCX Materials Current as of March 2026

Freeport-McMoRan Inc is screened out under 3 exclusion reasons spanning 2 issue categories.

This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. It is a statement of values.

Water Resources
Since Jan 1, 2024

Grasberg mine (Papua, Indonesia) discharges approximately 200,000 tonnes of tailings daily into the Otomona and Ajkwa river systems via government-permitted riverine tailings disposal (RTD); severe destruction of river ecology and floodplain covering >133 sq km; Freeport-McMoRan sustainability reports acknowledge ongoing ecological impacts; permitted under Indonesian law but represents severe environmental conduct with no equivalent US site allowed

Indigenous Rights
Since Jul 12, 2018

Environmental Rights Action / UN Special Rapporteur reports — Freeport-McMoRan (FCX); Grasberg mine (Papua, Indonesia): world's largest gold mine operates on land of Amungme and Kamoro indigenous peoples without FPIC under Indonesian law or UN DRIP standards; mine has operated since 1972; tailings disposal has destroyed Kamoro fishing grounds creating a new river delta of waste; activist suppression in Indonesian Papua limits documentation; FCX holds ~82% economic interest

Environmental Damage
Since Oct 14, 2013

Freeport-McMoRan operates one of the world's largest copper and gold mines at Grasberg in Papua, Indonesia, a site with a decades-long record of environmental damage. The company's practice of disposing of mine tailings directly into the Ajkwa River system has resulted in widespread deforestation and the contamination of downstream ecosystems across an estimated 230 square kilometers of lowland rainforest. This ongoing deposition of waste rock has fundamentally altered the river's course and buried local waterways.

Legal and regulatory actions document the pattern. In 1997, a landmark lawsuit, *Beanal v. Freeport-McMoRan*, alleged the company committed environmental torts and cultural genocide through its mining operations. In 2012, Freeport-McMoRan agreed to pay $6.8 million to settle federal and state natural resource damage claims related to pollution from its Morenci copper mine in Arizona, indicating similar environmental management issues within its U.S. operations. An academic environmental history of the company links it to "serious adverse environmental impacts" due to operational negligence.

While the company has implemented some environmental management programs in recent years, the foundational impact of its riverine tailings disposal at Grasberg—a method largely prohibited in many other mining jurisdictions—represents a persistent and material legacy of ecological damage.

Research Sources 2 organizations
External
External

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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.

This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.