Freeport (NYSE: FCX) has provided an update on the search for the remaining team members who were missing following the mud rush incident at the Grasberg block cave mine in Indonesia. Unfortunately, on October 5, 2025, PT Freeport Indonesia (PTFI) located the five missing team members who were found deceased. This is in addition to the two team members found deceased on September 20, 2025.
As a result of the incident, approximately 800,000 metric tons of wet material entered the mine, prompting the temporary suspension of mining operations in the Grasberg minerals district since September 8. The company is now prioritizing the investigation to identify the cause of the incident, which is unprecedented in PTFI’s multi-decade history of block cave mining operations. The investigation is expected to be completed by year-end 2025.
Following this incident, FCX provided a preliminary assessment of potential production impacts on September 24, 2025, without any updates to this assessment as of the latest press release.
Despite these challenges, FCX remains committed to its objective of being foremost in copper. The company operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold, and molybdenum. Its portfolio of assets includes the Grasberg minerals district in Indonesia, as well as significant operations in North America and South America.
The company's focus remains on supplying responsibly produced copper and being a positive contributor to the world well beyond its operational boundaries. Following these announcements, the company's shares moved 2.06%, and are now trading at a price of $39.67. For more information, read the company's full 8-K submission here.
