News Release Details

Report of the Annual Meeting of Stockholders of Freeport-McMoRan Inc. held on July 10, 2007

07/19/07

To Our Stockholders:

We are pleased to report to you regarding our annual meeting of stockholders held in Wilmington, Delaware on July 10, 2007.

The following is a summary of the number of shares of Common Stock (1) issued and outstanding on May 25, 2007, and entitled to vote at the meeting and (2) held by stockholders present in person or by proxy and entitled to vote at the meeting:

  Number of
shares
outstanding
on
May 25, 2007
Number of
shares held by
stockholders
present in person
or by proxy
Common Stock 381,461,210 315,859,979

There were present in person or by proxy stockholders entitled to vote holding at least 82.8% of the outstanding shares on the record date. Accordingly, a quorum was present at the meeting.

The following are the results of voting on the items of business presented at the meeting:

  • Holders of the Common Stock elected all sixteen directors with the votes cast as follows:
  • Name For % of
    Votes Cast
    Withheld % of
    Votes Cast
    Richard C. Adkerson 307,285,499 97.29% 8,574,480 2.71%
    Robert J. Allison, Jr. 298,069,210 94.37% 17,790,769 5.63%
    Robert A. Day 308,457,754 97.66% 7,402,225 2.34%
    Gerald J. Ford 311,368,423 98.58% 4,491,556 1.42%
    H. Devon Graham, Jr. 310,503,817 98.30% 5,356,162 1.70%
    J. Bennett Johnston 290,962,391 92.12% 24,897,588 7.88%
    Charles C. Krulak 311,624,858 98.66% 4,235,121 1.34%
    Bobby Lee Lackey 308,649,157 97.72% 7,210,822 2.28%
    Jon C. Madonna 311,583,410 98.65% 4,276,569 1.35%
    Dustan E. McCoy 310,327,201 98.25% 5,532,778 1.75%
    Gabrielle K. McDonald 291,104,710 92.16% 24,755,269 7.84%
    James R. Moffett 305,864,572 96.84% 9,995,407 3.16%
    B. M. Rankin, Jr. 291,023,306 92.14% 24,836,673 7.86%
    J. Stapleton Roy 291,173,224 92.18% 24,686,755 7.82%
    Stephen H. Siegele 311,680,276 98.68% 4,179,703 1.32%
    J. Taylor Wharton 308,684,532 97.73% 7,175,447 2.27%

  • Holders of the Common Stock approved a proposal to ratify the appointment of Ernst & Young LLP to act as the independent auditors of our and our subsidiaries’ financial statements for the year 2007, with the votes cast as follows:

  • For % of
    Votes Cast
    Against % of
    Votes Cast
    Abstain % of
    Votes Cast
    312,368,614 98.89% 1,542,878 0.49% 1,948,487 0.62%

  • Holders of the Common Stock approved the proposed amendments to the 2006 Stock Incentive Plan, with the votes cast as follows:

  • For % of
    Votes Cast
    Against % of
    Votes Cast
    Abstain % of
    Votes Cast
    217,728,876 82.61% 43,445,626 16.48% 2,387,707 0.91%

There were broker non-votes consisting of 52,297,770 shares of Common Stock.

Mr. Richard C. Adkerson, Chief Executive Officer and a director, served as Chairman of the meeting. In attendance were ten stockholders who beneficially own approximately 5,600 shares collectively. Also in attendance were the Inspector of Election, one representative of Ernst & Young LLP, and representatives of the Company. There were no other directors present at the meeting.

During the meeting, Mr. Adkerson presented the Company's 2006 Annual Report and the 2006 Working Toward Sustainable Development Report, copies of which were available to the stockholders in attendance. If you would like to receive a copy of the Company’s 2006 Annual Report or the Company's 2006 Working Toward Sustainable Development Report, please contact our Investor Relations Department at 504-582- 4000 or access our web site at www.fcx.com. Mr. Adkerson also provided stockholders with the opportunity to present comments on the matters to be voted upon. No stockholder presented comments. Mr. Adkerson then closed the polls, declared the results of the voting and adjourned the meeting.

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