Moffett was the founder and chairman of Freeport-McMoRan in 1981, and in 1988 led the company to a giant gold discovery at the Grasbergmine in Indonesia.
Based in Pheonix, Phelps Dodge has copper mining operations in the U.S., Chile, Peru and Congo, while New Orleans-based Freeport operates the vast open-pit Grasberggold, copper, and silver mine in Indonesia, and has reserves of about 37 billion pounds of copper and 40 million ounces of gold.