Freeport (NYSE: FCX) has provided an update on the status of its PT Freeport Indonesia (PTFI) operations following a mud flow incident on September 8, 2025, which led to the blocking of access routes in the Grasberg block cave. As a result of the incident, seven PTFI team members are currently missing, and extensive efforts are underway to locate them.
The wet material from the mud flow entered the mine through drawpoints in one of five production blocks and traveled to multiple lower mine levels. Efforts to clear the blocked access routes and access the areas where the missing team members were working are ongoing. While PTFI has successfully drilled into a number of locations in the service level, including near a refuge chamber close to the work area, the workers have not yet been located.
As a result of the incident, mining operations in the Grasberg minerals district remain temporarily suspended to prioritize the safe evacuation of the seven contractor workers. PTFI will conduct a thorough investigation and evaluate the incident's impacts on future plans, including revisions to near-term production forecasts.
In terms of financials, Freeport (NYSE: FCX) is a leading international metals company with significant proven and probable reserves of copper, gold, and molybdenum. Its portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world's largest copper and gold deposits, as well as significant operations in North America and South America.
Freeport's primary objective is to be foremost in copper production. The company operates large, long-lived, geographically diverse assets and is one of the world's largest publicly traded copper producers. The company takes pride in supplying responsibly produced copper and being a positive contributor to the world beyond its operational boundaries.
The incident and the ongoing rescue operations are being monitored by Indonesian government authorities, and Freeport's leadership has expressed deep concern for the missing team members and their families. The company's emergency response team is working tirelessly to ensure the safety of its workers while the investigation into the incident continues. As a result of these announcements, the company's shares have moved -2.61% on the market, and are now trading at a price of $44.72. For the full picture, make sure to review FREEPORT-MCMORAN INC's 8-K report.
