Freeport (NYSE: FCX) has provided an update on the search for the five team members who went missing following the mud rush incident at the Grasberg block cave mine in Indonesia. Unfortunately, on October 5, 2025, PT Freeport Indonesia located the missing team members, who were found deceased. This follows the discovery of two deceased team members on September 20, 2025. The company has expressed its deepest condolences to the families of the individuals and continues to mourn the loss of its coworkers.
The incident involved approximately 800,000 metric tons of wet material entering the mine and led to the temporary suspension of mining operations in the Grasberg minerals district since September 8. Freeport is committed to investigating the cause of the incident and taking all necessary steps to prevent its recurrence. The company expects the investigation to be completed by the end of 2025 and is working closely with Indonesian government authorities to review the incident and future operating plans.
Freeport (NYSE: FCX) is a leading international metals company with significant proven and probable reserves of copper, gold, and molybdenum. Its portfolio includes the Grasberg minerals district in Indonesia, one of the world's largest copper and gold deposits, as well as operations in North America and South America.
On September 24, 2025, the company provided a preliminary assessment of potential production impacts from the incident, and there have been no updates to this assessment. Further information will be provided as the investigation progresses and damage assessments are completed.
It's a tragic incident for Freeport, and the company remains focused on the safety of its operations while continuing to supply responsibly produced copper as a positive contributor to the world. The market has reacted to these announcements by moving the company's shares 2.05% to a price of $40.485. For the full picture, make sure to review FREEPORT-MCMORAN INC's 8-K report.
