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View all search resultsFreeport sees copper, gold output plunge after Grasberg landslide
The company has outlined a phased restart strategy for the mine, with full recovery to pre-incident operating rates targeted for 2027.
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Racing against time: Personnel of gold and copper miner Freeport Indonesia’s underground mine rescue team strive on Sunday to find the whereabouts of five workers who are still trapped in the Grasberg Block Cave underground mine in Tembagapura, Mimika, Central Papua. (Antara/Freeport Indonesia/Handout/Antara/Freeport Indonesia/Handout)
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T Freeport Indonesia (PTFI) expects a significant decline in copper and gold output following the September landslide at its Grasberg Block Cave (GBC) mining complex in Central Papua, which entrapped seven workers.
The incident, which occurred in production block “PB1C,” damaged critical infrastructure supporting adjacent blocks, resulting in a temporary suspension of operations while rescue and repair efforts continue.
Preliminary assessments indicate that the disruption will materially impact near-term production.
For the third quarter, Freeport-McMoRan’s consolidated copper and gold sales are projected to be 4 percent and 6 percent lower, respectively, compared with July estimates. Fourth-quarter sales, previously forecast at 445 million pounds of copper and 345,000 ounces of gold, are now expected to be negligible due to the halt.
The company has outlined a phased restart strategy for the Grasberg mine, beginning with partial operations in blocks “PB2” and “PB3” in the first half of next year, followed by “PB1S” in the second half, and finally “PB1C” in 2027.
Under this scenario, 2026 production could fall by approximately 35 percent relative to pre-incident estimates of 1.7 billion pounds of copper and 1.6 million ounces of gold. Full recovery to pre-incident operating rates is targeted for 2027, although the timeline remains subject to operational and regulatory developments.
Freeport has indicated that it intends to pursue insurance claims to mitigate financial losses.
