Summary
Freeport-McMoRan Inc. (FCX) reported an incident at its Tyrone mine in New Mexico on January 10, 2012, involving an "imminent danger order" issued by the Mine Safety and Health Administration (MSHA). The order was prompted by an employee observed working near a highwall with loose material. Importantly, the employee was immediately moved from the area, and the order was terminated without any accident or injury occurring. This filing, made under Section 1503(b) of the Dodd-Frank Act, serves to disclose the receipt of such MSHA orders. While the incident was resolved swiftly and without consequence, it highlights the company's adherence to regulatory disclosure requirements concerning mine safety. Investors should note that this was a procedural disclosure and did not result in operational disruptions or harm.
Key Highlights
- 1Freeport-McMoRan subsidiary, Freeport-McMoRan Tyrone Inc., received an imminent danger order from MSHA.
- 2The order related to an employee working near a highwall with loose material at the Tyrone mine in New Mexico.
- 3The employee was immediately moved from the area, leading to the termination of the order.
- 4No accident or injury occurred as a result of the incident.
- 5The disclosure is a requirement under Section 1503(b) of the Dodd-Frank Act.
- 6The order was issued orally by an MSHA inspector on January 10, 2012.