Freeport-McMoRan Set to Revitalize Grasberg Mining Operations

Freeport-McMoRan plans to restore production at its Grasberg district in Indonesia by the second quarter of 2026 after a fatal incident. The company forecasts copper and gold output to align with 2025 levels and expects further production increases in subsequent years amid rising demand for copper.

In a strategic move, Freeport-McMoRan announced it intends to resume large-scale production at the Grasberg minerals district in Indonesia by the second quarter of 2026. This decision comes after a tragic incident halted operations earlier this year, resulting in the deaths of seven workers.

The company detailed its phased plan, expecting PT Freeport Indonesia's copper and gold output in 2026 to match 2025 levels, projecting approximately 1.0 billion pounds of copper and 0.9 million ounces of gold. Freeport's shares noted a rise of 3.6% in premarket trading.

With global demand for copper increasing due to the expansion of electric grids and electric vehicles, Grasberg remains a crucial asset. Remediation efforts are ongoing, as production continues at unaffected sites within the district.

(With inputs from agencies.)