RG
Rick Gittleman
President
Fmr. Senior VP Freeport Africa; senior management team Tenke Fungurume; senior management copper group, Glencore. J.D., American University.
Copper demand is rising, and more than half of the world's smelting and refining capacity is in China.
~⅓
of U.S. mine output ships abroad as concentrate
About 340,000 t leaves the country each year; most likely reaches China for smelting.
USGS MCS 2026 · Rio Tinto, BIS-2025-0010
57%
U.S. reliance on imported refined copper
Most of the refined copper the United States uses is bought abroad, at a price China sets.
USGS MCS 2026 · ICSG 2025
~1,350 kt
U.S. refining capacity not yet built
The United States uses about 2,200 kt of refined copper a year and produces about 850 kt at home.
USGS MCS 2026
Falcon's projects in the United States and allied countries would increase copper supply independent of China at each stage, from the mine to the refinery.
Under evaluation
Projects in the United States
Falcon is evaluating mining, smelting and refining projects in the United States, including a smelter in Arizona and a refinery on the Gulf Coast. The smelter would be the first new-build primary copper smelter in the United States in four decades.
Two primary smelters operate in the United States, with a third in care and maintenance. The U.S. ships concentrate abroad and buys finished copper back, dependent on processing capacity China dominates and prices. For the first time in decades, Section 232 protects domestic processing economics: 50% on semi-finished copper since August 2025, and 10% on articles made from copper smelted and cast in the United States. Refined copper carries no rate. The July 2025 proclamation set a decision point rather than a schedule, directing Commerce to report by 30 June 2026 so the President may determine whether to impose 15% from January 2027 and 30% from January 2028. That report has not been published. Building refining capacity in the United States is what turns that policy into finished copper.
Under evaluation
Arizona smelter
Primary copper smelter
A greenfield primary copper smelter in Arizona, which would be the first in four decades, built around modern, commercially proven smelting technology. Arizona accounted for approximately 70% of U.S. copper mine production in 2025. (USGS MCS 2026)
Under evaluation
Gulf Coast refinery
Electrolytic copper refinery
An electrolytic refinery on the Gulf Coast that would turn copper anode into finished copper (cathode), for port access and proximity to downstream industry.
These projects are under evaluation. Capacities, partners, technology, and timing are disclosed as they are confirmed. See Disclosures.
01
Western U.S. Mine Districts
Ore extracted from copper deposits across AZ, NV, MT, AK
02
Crushing, Milling & Flotation
Run-of-mine ore processed to ~28% copper concentrate at the mine site
Falcon · Under evaluation
03
Primary Smelter & Refinery
Primary smelting converts concentrate to copper anode
04
Copper Anode & Finished Copper
Anode casting followed by electrorefining to finished copper
05
U.S. Industry & Allied Nations
Defense systems, grid infrastructure, and advanced manufacturing
Under evaluation
Projects in allied countries
Falcon is evaluating several mining, smelting and refining projects in allied countries, to add finished copper for the United States and its allies.
Even with maximum domestic exploration investment, U.S. mine production alone cannot meet the copper demand of grid electrification, AI infrastructure and defense systems.
MiningUnder evaluation
Smelting and refiningUnder evaluation
“We believe that economic value and growth will flow through and across all levels of the global AI supply chain, driving historic opportunity and demand for energy, critical minerals, manufacturing, technological hardware, infrastructure, and new markets not yet invented.”
Pax Silica Declaration · U.S. Department of State, December 2025
Operators who have
run this before.
Rick Gittleman, Eric Best and Mike Ciricillo have held senior operating roles at Freeport's Tenke Fungurume and Miami Smelter, Glencore's Mutanda and KCC, Mopani, Nevada Copper, and Barrick's Cortez District.
EB
Eric Best
Executive Vice President
Fmr. CEO Glencore Mutanda Mining; Fmr. GM Cortez District, Barrick; Fmr. COO Mineral Park; senior roles at Freeport Tenke Fungurume.
MC
Mike Ciricillo
Executive Vice President
Fmr. GM Freeport Miami Smelter & smelter manager Chino; Fmr. Glencore Head of Global Copper Production; Fmr. President Freeport Africa (Tenke Fungurume); Fmr. CEO Nevada Copper.
Continue reading
ProjectsExplorationEight active copper-dominant exploration projects in Montana, Alaska, Nevada and Arizona.Read →PerspectiveThe American Copper ImperativeFalcon Copper's analysis of why U.S. copper security requires domestic smelting, allied supply and a new exploration cycle.Read →PerspectiveCopper: The Reindustrialization MetalWhy copper is the one material every part of America's rebuild depends on.Read →