The Morenci mine is an unincorporated joint venture owned 72% by Freeport-McMoRan Inc. (FCX), with the remaining 28% owned by Sumitomo Metal Mining Arizona, Inc. (15%) and SMM Morenci, Inc. (13%). Each partner takes in kind its share of Morenci’s production. FCX is the operator of the joint venture and holds registered title to the mineral claims.

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