Freeport-McMoRan Copper & Gold, Inc., through its subsidiaries, engages in the exploration, mining, and production of copper, gold, and silver. It operates the Grasberg open pit and the Deep Ore Zone mines in Indonesia. The company also smelts and refines copper concentrates, and markets the refined copper products. It also has operations in Grasberg block cave, Kucing Liar, Mill Level Zone, Deep Mill Level Zone, Ertsberg Stockwork Zone, Big Gossan, Dom block cave, and Dom open pit. As of December 31, 2005, it had 2,822,489 metric tons of proven and probable recoverable ore reserves. The company sells its concentrates containing copper, gold and silver primarily to companies in Asia and Europe, and to international trading companies. The company was founded in 1987 and is based in New Orleans, Louisiana.