Freeport-McMoRan's Recovery Plan at Grasberg

Freeport-McMoRan aims to resume large-scale production at the Grasberg minerals district in Indonesia by the second quarter of 2026 after operations were halted due to a fatal incident. The company forecasts steady copper and gold output levels for 2026 and significant production increases in subsequent years.

Freeport-McMoRan announced plans on Tuesday to resume large-scale production at Indonesia's Grasberg minerals district by the second quarter of 2026. This decision follows a tragic incident that resulted in seven fatalities and a temporary cessation of operations.

The deadly event, which involved the flooding of 800,000 metric tons of wet material, affected the Grasberg Block Cave mine on September 8. Freeport projects that its Indonesian subsidiary's output for 2026 will mirror 2025 figures, with around 1.0 billion pounds of copper and 0.9 million ounces of gold.

Looking ahead, the company anticipates increased production levels in 2026 and 2027, expecting average annual outputs of approximately 1.6 billion pounds of copper and 1.3 million ounces of gold for the years 2027 to 2029.

(With inputs from agencies.)