Headquartered in Phoenix, Arizona, Freeport-McMoRan is a leading international mining conglomerate. Freeport-McMoRan's revenue comes from a broad array of essential commodities, including copper (70% of fiscal 2016 revenue), gold (10%), oil (9%), and molybdenum (4%). The company's segments are North America copper mines, South America mining, Indonesia mining, and molybdenum mines. As is the case with Southern Copper, Freeport's management believes the underlying long-term fundamentals of the copper business remain stable. The company has retained a portfolio of high-quality, long-lived copper assets positioned to generate value for the long term.