<SEC-DOCUMENT>0001214659-16-011516.txt : 20160513
<SEC-HEADER>0001214659-16-011516.hdr.sgml : 20160513
<ACCEPTANCE-DATETIME>20160513060506
ACCESSION NUMBER:		0001214659-16-011516
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20160513
DATE AS OF CHANGE:		20160513
EFFECTIVENESS DATE:		20160513

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FREEPORT-MCMORAN INC
		CENTRAL INDEX KEY:			0000831259
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				742480931
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11307-01
		FILM NUMBER:		161645773

	BUSINESS ADDRESS:	
		STREET 1:		333 NORTH CENTRAL AVENUE
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85004
		BUSINESS PHONE:		6023668100

	MAIL ADDRESS:	
		STREET 1:		333 NORTH CENTRAL AVENUE
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FREEPORT MCMORAN COPPER & GOLD INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FREEPORT MCMORAN COPPER COMPANY INC
		DATE OF NAME CHANGE:	19910114

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AS YOU SOW
		CENTRAL INDEX KEY:			0001086462
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		311 CALIFORNIA STREET
		STREET 2:		SUITE 510
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94104
		BUSINESS PHONE:		415-391-3212

	MAIL ADDRESS:	
		STREET 1:		311 CALIFORNIA STREET
		STREET 2:		SUITE 510
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94104
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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NAME OF REGISTRANT:</font> Freeport McMoRan</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NAME OF PERSON RELYING ON EXEMPTION:</font> As You Sow</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ADDRESS OF PERSON RELYING ON EXEMPTION:</font> 1611 Telegraph Ave., Suite 1450, Oakland, CA 94612</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; COLOR: #1a1a1a; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Written materials are submitted pursuant to Rule 14a-6(g)(1) promulgated under the Securities Exchange Act of 1934.&#160;Submission is not required of this filer under the terms of the Rule, but is made voluntarily in the interest of public disclosure and consideration of these important issues.</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Shareholder Proposal on Freeport McMoRan Proxy Statement:</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vote Yes on Proposal 8: Disclosures on Urban Drilling Practices</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;Symbol: FCX</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Filed by: As You Sow</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Annual Meeting: June 8, 2016</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Contact: dfugere@asyousow.org</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SUMMARY</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">As You Sow filed this shareholder resolution on behalf of Freeport McMoRan investors, requesting that the Company report to shareholders on actions being taken to reduce and mitigate potential health harms, environmental harms, and negative community impacts arising from the Company&#8217;s use of non-conventional extraction methods to enhance oil production in urban areas. Freeport implements a variety of methods to enhance oil production, including the use of acid, gravel, and water flooding, in the Los Angeles Basin as well as steam injection in the San Joaquin Basin. The company or its predecessor also conducted hydraulic fracturing in Inglewood as recently as 2013, operations which may still pose environmental health risks to vulnerable communities.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">The use of non-conventional techniques to enhance oil production from wells in close proximity to homes and schools has created significant controversy and concern, reflected by community actions, substantial media attention, and legal controversy. The Proposal&#8217;s objective is for Freeport to provide shareholders with key information on how it is managing the risks posed by these controversial operations in urban locations. Southern California Gas&#8217; record-breaking &#8220;Porter Ranch&#8221; methane leak, in the heart of Los Angeles, is a timely, stark reminder of the risks and costs urban drilling can incur for operational failures. Shareholders require transparency on Freeport&#8217;s efforts to mitigate the health harms and other risks of its urban extraction operations.</font> The Proponents urge a &#8220;yes&#8221; vote in support of this resolution.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold; MARGIN-RIGHT: 72pt">RESOLVE CLAUSE</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Shareholders request that the Board of Directors report on company actions being taken (excluding actions taken to comply with law) to reduce and mitigate potential health harms, environmental harms, and negative community impacts that arise from Freeport&#8217;s enhanced oil recovery operations (such as hydraulic fracturing, steam injection, gravel packing, and acidizing) in urban areas of California. This report should be prepared at reasonable cost, omitting confidential information, by November 30, 2016.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">RATIONALE FOR A YES VOTE</div>

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<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: right">1)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">The health and environmental impacts of enhanced oil recovery methods, especially those in urban regions in California, are facing increased regulatory scrutiny and social concern. </font>Freeport has significant oil operations in the Los Angeles Basin, a focal point for social concerns about the health impacts of non-conventional drilling methods.</td>
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<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: right">2)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Freeport has significant urban drilling operations in California that </font><font style="FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">face resistance from front-line communities, posing increased risks to the company.</font><font style="FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt"> Community resistance and concerns of environmental and health impacts remains strong at Freeport&#8217;s urban drilling operations, including the Jefferson, Murphy, and Inglewood oil drilling sites.</font></td>
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<td style="WIDTH: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: right">3)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">The Company lacks disclosure on the actions being taken to reduce environmental and social risks associated with its enhanced oil recovery operations in urban regions. </font>The risks of urban drilling, especially those operations that use hydraulic fracturing, acidizing, and other non-conventional techniques are recognized, yet Freeport has not disclosed its practices to reduce these risk to shareholders. </td>
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">The health and environmental impacts of enhanced oil recovery methods, especially those in urban regions, are facing increased regulatory scrutiny and social concern.</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">Enhanced oil production methods are controversial nationally, and have been under increased scrutiny in California.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup> Hydraulic fracturing, acidizing, and other enhanced oil production techniques commonly use toxic chemicals in the fluids used to fracture subterranean rock and to dissolve, using acids and chemicals, minerals between rocks, freeing oil for extraction. These toxic chemicals, including benzene and hydrochloric acid, can contaminate water supplies and cause or increase air pollution, resulting in human and environmental health harms. A 2015 study testing 329 hydraulic fracturing wells in California found that 98% of the wells exceed federal and state water quality standards for benzene, a carcinogen, and that benzene levels average over 700 times the federal limit.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">2</sup> Studies have also identified hundreds of unlined waste water pits in California which can contaminate surface water and groundwater in aquifers.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">3</sup> Millions of gallons of oil waste water from hydraulic fracturing has been allegedly illegally pumped into protected aquifers through injection wells, resulting in at least one legal action in 2015.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">4</sup></div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">Chemicals used in enhanced oil recovery, including crystallized silica and formaldehyde, can also contaminate air, and have been proven to cause serious health harms.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">5</sup> Between June 2013 to 2014, California oil companies, including Freeport, reported using more than 45 million pounds of such chemicals &#8211; including 44 different airborne toxins &#8211; in Los Angeles and Orange counties alone.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">6</sup> The large number of controversies around non-conventional and enhanced oil recovery techniques in California has escalated public concern and calls for increased regulations.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">Freeport&#8217;s enhanced oil production operations in urban locations magnify the associated risks due to the large numbers of people living in close proximity to operations and subject to potential harm. Potential health harms could include costly litigation given the density of the population in the urban areas where thousands of potential plaintiffs exist. In addition, in urban areas, impacts such as truck traffic, air pollution, and potential water pollution, for example, are magnified due to density, already poor air quality, and the high number of people that will be impacted by any drinking water degradation.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">The Los Angeles basin, where Freeport has substantial operations, is a focal point for the urban drilling debate across the nation and has been the subject of significant media coverage, public demonstrations, litigation, and efforts to ban fracturing and acidization in the area.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">7</sup><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">,8 </sup>Regulatory adjacencies have also expressed concern; an internal report issued by the Division of Oil, Gas and Geothermal Resources assessing oil wells in the L.A. region found that &#8220;47% of well records did not contain information vital to understanding the integrity of the well&#8221; and &#8220;that testing and methods to ensure that fluids injected into the ground don't contaminate aquifers or drinking water sources are inadequate and need to be updated.&#8221;<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">9</sup></div>

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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Freeport has significant urban drilling operations in California that <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">face resistance from front-line communities, posing increased risks to the company</font></td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">Freeport is one of the largest oil producers in California and an operator of multiple urban drilling sites, including the Inglewood Oil Field. The Inglewood Oil Field is the largest urban oil field in the country and is located amidst the residences of 300,000 people.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">10</sup> Other Freeport oil operations in Los Angeles include the Jefferson and Murphy drill sites, which are surrounded by homes and are located within in a half-mile of multiple schools and day care centers.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">11</sup> The enhanced oil production methods Freeport uses in urban areas raise important health and environmental risks that could escalate and negatively impact the Company&#8217;s oil and gas portfolio and threaten the Company&#8217;s social license to operate locally, in California and, potentially nationwide and worldwide.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">_____________________________</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;COLOR: #000000">1</sup><font style="FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">&#160;</font>Huffpost Los Angeles. California Offshore Fracking More Widespread Than Anyone Believed. Oct, 2013. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://www.huffingtonpost.com/2013/10/21/california-offshore-fracking_n_4136956.html</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;COLOR: #000000">2</sup><font style="FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">&#160;</font>Los Angeles Times. High levels of benzene found in fracking waste water. Feb, 2015. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://www.latimes.com/local/california/la-me-fracking-20150211-story.html</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;COLOR: #000000">3</sup><font style="FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">&#160;</font>Los Angeles Times. Hundreds of illicit oil wastewater pits found in Kern County. Feb, 2015. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://www.latimes.com/local/lanow/la-me-ln-pits-oil-wastewater-20150226-story.html</u></font>;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;COLOR: #000000">4</sup><font style="FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">&#160;</font>Center for Biological Diversity. Lawsuit Seeks to Halt Illegal Dumping of Toxic Oil Waste Into California's Imperiled Water Supplies. May, 2015. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>https://www.biologicaldiversity.org/news/press_releases/2015/oil-waste-05-07-2015.html</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;COLOR: #000000">5</sup><font style="FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">&#160;</font>See TEDX The Endocrine Disruption Exchange. Chemicals in Oil and Gas Operations. Heath Effects Spreadsheet and Summary. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://endocrinedisruption.org/chemicals-in-natural-gas-operations/chemicals-and-health</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;COLOR: #000000">6</sup><font style="FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">&#160;</font>The Center for Biological Diversity. Air Toxics One-Year Report: Oil Companies Used Millions of Pounds of</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Air-Polluting Chemicals in Los Angeles Basin Neighborhoods. June, 2014. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>https://www.biologicaldiversity.org/campaigns/california_fracking/pdfs/14_6_9_Air_Toxics_One_Year_Report.pdf</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;COLOR: #000000">7</sup><font style="FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">&#160;</font>New York Times. The Danger of Urban Oil Drilling. Nov, 2015. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://www.nytimes.com/2015/11/28/opinion/the-danger-of-urban-oil-drilling.html</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;COLOR: #000000">8</sup><font style="FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">&#160;</font>Lost Angeles Times. L.A. lawmakers press for action on fracking ban despite new report. November, 2014. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://www.latimes.com/local/lanow/la-me-ln-planning-fracking-ban-20141113-story.html</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;COLOR: #000000">9</sup><font style="FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">&#160;</font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Los Angeles Times. Oil well oversight in L.A. Basin is &#8216;inconsistent,&#8217; audit finds. Oct, 2015. </font><font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://www.latimes.com/local/california/la-me-oil-report-health-20151009-story.html</u></font></div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">10</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>Baldwin Hills Oil Watch. Fracking in Culver City. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://baldwinhillsoilwatch.org/</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">11</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>Liberty Hill. Drilling Down: Community Consequences of Expanded Oil Development in Los Angeles. 2015. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://www.libertyhill.org/sites/libertyhillfoundation/files/Drilling%20Down%20Report_1.pdf</u></font></div>
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There has been significant resistance from communities in close proximity to Freeport urban drilling operations. At the Murphy Drill site, the frontline community has documented, on a public website, excessive odors, community members suffering from respiratory problems, chronic nosebleeds, skin irritation, and headaches.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">12</sup> The Air Quality Management District responded to public complaints at the Murphy drill site and found a natural gas leak exceeding 400% of the allowable limit in the area.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">13</sup> Community opposition is current; one of the community groups protesting Freeport&#8217;s operations include the Holman Methodist Church, which organized a march of hundreds of children to the Murphy and Jefferson drill site.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">14</sup></div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">Community opposition has also been strong at the Jefferson drilling site, which is 85 feet from homes, 145 feet from a church, and 770 feet from an elementary school.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">15</sup> From 2013-2014, Freeport reported using 133,766 pounds of corrosive acids and toxic chemicals at the Jefferson Drill site, where the frontline community has raised concerns regarding strong chemical odors and health impacts.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">16,17</sup> Front line communities of the Jefferson site have also provided documents to the Los Angeles Planning Committee claiming Freeport McMoRan&#8217;s violation of various zoning ordinances, infringements, and treatment of the community with &#8220;reckless regard.&#8221;<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">18</sup> This letter provides images and statements documenting the alleged community impacts and zoning ordinance violations, which is further supported by other appeals submitted to the Los Angeles Planning Committee.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">19</sup></div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">As the largest urban drill site in the country, the Inglewood Oil Field is facing significant community opposition. This oil field has been the focus of many public demonstrations; famous actors, like Mark Ruffalo and Leonardo DiCaprio, have become outspoken activists raising awareness of the threats facing communities like those subject to Freeport&#8217;s drilling.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">20</sup></div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">The Company cites a study suggesting that there is no &#8220;</font>statistical difference in mortality or acute illness rates between the neighborhoods surrounding the Inglewood Oil Field and any other part of the Los Angeles Basin.&#8221;<font style="FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt"> The merit of these studies remain in question. The California Committee of Science and Technology stated that the study&#8217;s methods were unsound and that the &#8220;study design is insufficient for establishing causality and has many major limitations.&#8221;</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;COLOR: #000000">21</sup><font style="FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt"> Other critics note the study only addresses the near-term effects and fails to address long-term health impacts.</font></div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">Despite the study&#8217;s findings, qualitative evidence of harm remains persistent,<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">22</sup> and community opposition to Freeport&#8217;s urban drilling is significant. The company has stated that it regularly engages with urban communities, yet this had not alleviated community concern. In many cases, the Company&#8217;s urban neighbors are low-income individuals from underserved communities who do not have access to the resources necessary to carry out epidemiological studies; the Company certainly is aware of this. The requested disclosures are well founded in public opposition; potential for health, community, and environmental risks facing the Company and should be transparently addressed.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">12</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>Stand &#8211; L.A. The Murphy Site. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://www.stand.la/murphy.html</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">13</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>Stand &#8211; L.A. The Murphy Site. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://www.stand.la/murphy.html</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">14</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>Redeemer Community Partnership. Kids Advocacy Day. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://www.redeemercp.org/#!Kids-Advocacy-Day/c6a0/55ce085b0cf2b503a1a415d4</u></font>; Aljazeera America. California communities mount protests against fracking, oil drilling. July, 2015. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://america.aljazeera.com/articles/2015/7/24/california-communities-mount-protests-against-fracking-oil-drilling.html?utm_campaign=americatonight&amp;utm_source=twitter&amp;utm_medium=SocialFlow</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">15</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>Center for Biological Diversity. Air Toxics One-Year Report: Oil Companies Used Millions of Pounds of Air-Polluting Chemicals in Los Angeles Basin Neighborhoods. June, 2014, p. 6. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>https://www.biologicaldiversity.org/campaigns/california_fracking/pdfs/14_6_9_Air_Toxics_One_Year_Report.pdf</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">16</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>Liberty Hill. Drilling Down: Community Consequences of Expanded Oil Development in Los Angeles. 2015. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://www.libertyhill.org/sites/libertyhillfoundation/files/Drilling%20Down%20Report_1.pdf</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">17</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>Stand &#8211; L.A. The Jefferson Site. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://www.stand.la/jefferson.html</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">18</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>Make Jefferson Beautiful. Public Comment: RE: ZA 17528(PA4). <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://makejeffersonbeautiful.weebly.com/uploads/4/9/7/8/49781361/2013-09-20_-_community_leadership_letter_upload_size.pdf</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">19</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>Jefferson Park United. Case No. ZA 15227 (O) (PA4) &#8211; Review of Plans, Gas Plant Expansion, Amendment</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Of Appeal. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://jeffersonparkunited.org/sites/jeffersonparkunited.org/files/user160/pdf_nodes/Peckman%20Appeal%20FMOG%20CEB%20140324%20(Rdctd).pdf</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">20</sup>&#160;<font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Tina Daunt, &#8220;Why Mark Ruffalo Led a Tour of Los Angeles&#8217; Oil and Gas Drilling Operations&#8221;, </font><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">GOOD, </font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">march 1</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">st</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">, 2016, </font><font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>https://www.good.is/articles/ruffalo-lear-dicaprio-los-angeles-urban-oil-wells-fracking</u></font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">; Christine Shearer, &#8220;Fracking in California Raises New and Old Concerns&#8221;, </font><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">TruthOut, </font><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">May 30, 2012, </font><font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://www.truth-out.org/news/item/9438-fracking-in-california-raises-new-and-old-concerns</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">21</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>California Council on Science and Technology. A Case Study of the Petroleum Geological Potential and Potential Public Health Risks Associated with Hydraulic Fracturing and Oil and Gas Development in The Los Angeles Basin <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://ccst.us/publications/2015/vol-III-chapter-4.pdf</u></font> p. 217</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">22</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>Los Angeles Times. Amid protests, report finds no harm from fracking. Oct, 2012. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://articles.latimes.com/2012/oct/16/local/la-me-fracking-baldwin-hills-20121016</u></font></div>

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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Freeport lacks disclosure on the actions being taken to reduce environmental and social risk associated with its enhanced oil recovery operations in urban regions.</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">Despite operating oil extraction sites that subject frontline communities in one of the largest U.S. cities to serious public and environmental health risks, Freeport does not disclose if or what actions it is taking to recognize or manage such risks. Freeport&#8217;s website, annual reports, and other publically available documents fail to address whether the Company is taking any action to address the impacts of its enhanced oil recovery drilling in urban locations.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">23</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>These risks create the real possibility of a significant catastrophe in one of the U.S.&#8217; largest cities. Accordingly, Freeport is exposed to a significant level of reputational risk, litigation risk, risks of fines and damages, and ultimately public opposition that could threaten its social license to operate across California and potentially across operations outside of California.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">The Company admits that the Los Angeles operations are risky: &#8220;Our oil and gas operations are also subject to operating hazards, including well blowouts, cratering, explosions, fires, uncontrollable flows of oil, gas or well fluids and pipeline ruptures, as well as natural disasters such as earthquakes, mudslides and hurricanes. <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Our operations in California, including transportation of oil by pipelines within the city and county of Los Angeles, are especially susceptible to damage from earthquakes and involve increased risks of personal injury, property damage and marketing interruptions because of the population density of southern California</font>.&#8221;<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">24</sup> [emphasis added]. Despite acknowledging these risks, Freeport does not produce relevant disclosures on its practices to minimize the environmental and social impact of its urban drilling operations.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-SIZE: 10pt">Freeport&#8217;s disclosures of its urban drilling operations are not comprehensive. For example, before the release of its 2016 proxy addressing this resolution,<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">25</sup> Freeport had no relevant disclosures on its website or investor reports that stated that it has not used hydraulic fracturing in the Los Angeles Basin since January, 2014. Additional information would benefit shareholders, especially considering previous reports that hydraulic fracturing has been used in the area. In 2012, a report by Cardno ENTRIX found that there were 23 wells in the Inglewood oil field using hydraulic fracturing, and the California Council on Science and Technology estimated that 100% of the wells in the Inglewood Oil Field are supported by hydraulic fracturing, frac-packing, or high-rate gravel packing (HRGP).<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">26</sup> Other third party sources also suggest that Freeport McMoRan engaged in hydraulic fracturing after taking ownership of the site and commonly associates hydraulic fracturing with the company.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">27</sup> Additionally, before 2013, there were multiple hydraulic fracturing tests done at the Inglewood site, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">with the results indicating that future hydraulic fracturing development should be viable in the future as well as safe</font>.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">28</sup> Regulators have also studied the effects of hydraulic fracturing at the Inglewood site due to &#8220;the high likelihood of enhancement techniques&#8221; being used in the near future, subsequently finding the differing result that "significant and unavoidable" environmental damage can be expected at this field as a result of fracking.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">29</sup> Additional information on the types of drilling methods Freeport is using and the practices the Company is taking to minimize the risk associate with these drilling operations would benefit shareholders.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CONCLUSION</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">Freeport and its shareholders have significant exposure to the social, regulatory and reputational risks associated with its urban drilling practices. The Company has failed to disclose actions they are taking, if any, to minimize these risks and mitigate the potential for environmental and social impacts. The Proponents urge a &#8220;Yes&#8221; vote on this resolution, which will yield information that shareholders require to assess the risk Freeport&#8217;s urban drilling operations may pose to the Company.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">23</sup> Freeport McMoRan Website. http://www.fcx.com/</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">24</sup> Freeport McMoRan. 2014 10k p.51 https://www.sec.gov/Archives/edgar/data/831259/000083125915000016/a2014form10-k.htm</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">25</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>Freeport McMoRan. 2016 Proxy Statement. P. 78, <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://d1lge852tjjqow.cloudfront.net/CIK-0000831259/8ffd6afc-a761-4d3d-b293-5eef928bda54.pdf?noexit=true</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">26</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>California Council on Science and Technology. A Case Study of the Petroleum Geological Potential and Potential Public Health Risks Associated with Hydraulic Fracturing and Oil and Gas Development in The Los Angeles Basin (pg 238). <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://ccst.us/publications/2015/vol-III-chapter-4.pdf</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">27</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>Baldwin Hills Oil Watch. Fracking in Culver City. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://baldwinhillsoilwatch.org/</u></font>; California Frack Facts. Urban Oil Extraction. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://www.cafrackfacts.org/fracking-in-california/urban-oil-extraction/</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">28</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>Freeport McMoRan: Inglewood Oil Field. Hydraulic Fracturing Study. Oct, 2012. (pg 3-31) <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://www.inglewoodoilfield.com/res/docs/102012study/Hydraulic%20Fracturing%20Study%20Inglewood%20Field10102012.pdf</u></font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">29</sup><font style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt">&#160;</font>KCET. Report: Fracking Imperils Southern California Residents, Wildlife. January, 2015. <font style="FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff; FONT-SIZE: 10pt"><u>http://www.kcet.org/news/redefine/rewire/natural-gas/report-fracking-imperils-southern-california-residents-wildlife.html</u></font></div>

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