[Editor's Note: This was sent on March 27, but fell into an abyss of too much information pouring it.]
We would like to provide you an update on actions we are taking at Chino and Tyrone Operations in response to current conditions surrounding the COVID-19 pandemic. We all have experienced the rapid change in our daily lives and seen what is happening around the world. We anticipate the impacts of this issue likely will present us challenges for some time.
It will take all of us working together to help keep our community strong and healthy as we work through the significant challenges of this situation, and we greatly appreciate the working relationships we have with you as well as other local community organizations.
We are closely monitoring the situation and managing our business with appropriate caution to mitigate impacts as best possible while still maintaining essential business activities. As we work to respond quickly to this challenging and fluid situation, our focus continues to be on the health and well-being of our employees, their families and our community.
Here are some actions we are taking to help keep our employees, workplace and community safe:
Encouraging and facilitating social distancing, including arranging for nonessential staff to work from home and replacing most in-person meetings with web-based alternatives
Screening all visitors for past travel history and COVID-19 symptoms or exposure
Increasing cleaning procedures for areas across our property with shared equipment, such
as control rooms and vehicles
Issuing company travel restrictions requiring all international and domestic travel (by land and/or air) be approved by executive leadership
Encouraging our employees to practice the following personal hygiene procedures, as prevention is key to stopping the spread of the virus:
o Wash your hands frequently with soap and water
o Use hand sanitizer to supplement hand washing
o Refrain from touching your face
o Cover your mouth and nose when coughing or sneezing
o Stay at least 6 feet away from other people
In addition, we are asking employees not to come to work if they do not feel well to reduce any potential exposure to their coworkers. We also have temporarily adjusted our Human Resources policies with respect to sick leave and other pay practices.
To directly support those on the frontline of the COVID-19 fight, we are working with local community medical facilities to determine their needs for personal protective equipment as well as any other non-medical supplies that we may be able to provide.
Freeport-McMoRan has also undertaken an aggressive review of operating plans at each of its global copper and molybdenum operations to target reductions in all elements of costs and capital spending to achieve maximum cash flow under current market conditions. Our New Mexico operations have begun deferring capital expenditures and reducing use of contract labor support as part of this effort. As explained by our CEO and President, Richard Adkerson, "The prudent steps we are taking to address costs and capital spending and preserve a strong liquidity position are necessary to maintain flexibility as we respond to current global economic uncertainties and the resulting sharp decline in copper prices in recent weeks.”
We are assessing the situation daily and taking all necessary steps to be well prepared during these challenging and changing times. We wanted to share with you, our community partners, our response to COVID-19 because we appreciate the relationships we have built over time, and we are grateful for all you do to make our community a great place to live and work. Should you have any questions or wish to discuss further with us, please don’t hesitate to reach out to Laura Phelps, our Community Development Manager, at 575-654-0375 or lphelps@fmi.com.
Sincerely,
Chad Fretz
General Manager Chino Operation
Erich Bower
General Manager Tyrone Operation