FCX_Freeport-McMoRan Copper & Gold Inc. - Worldwide Operations, Indonesia: "The Grasberg minerals district contains the largest single recoverable copper reserve and the largest single gold reserve in the world based on the latest available reserve data provided by third-party industry consultants. Grasberg is at the heart of a highly prospective minerals district, where ongoing exploration is providing opportunities to continue to add to our long-lived reserves.
PT Freeport Indonesia operates under a Contract of Work (COW) with the government of Indonesia, which allows us to conduct exploration, mining and production activities in the 27,400-acre Block A area, which is where all of PT Freeport Indonesia's proven and probable mineral reserves and current mining operations are located. Under the COW, PT Freeport Indonesia also conducts exploration activities in the approximate 500,000-acre Block B area."
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