Freeport (FCX) Plans to Restore Large-Scale Production at Grasberg Operations

By Greg Peters • Tuesday, November 18 15:42 • Permanent Link

Freeport (NYSE: FCX) has announced plans to restore large-scale production from PT Freeport Indonesia's (PTFI) Grasberg operations in Central Papua, Indonesia. The company has commenced production from the unaffected deep mill level zone and big gossan underground mines, with remediation activities being advanced to prepare for a phased restart and ramp-up of the Grasberg block cave underground mine beginning in the second quarter of 2026.

The company expects PTFI’s production of copper and gold from the Grasberg minerals district in 2026 to be similar to estimated 2025 volumes, approximating 1.0 billion pounds of copper and 0.9 million ounces of gold. Furthermore, it anticipates production to increase throughout 2026 and 2027, with the average annual production reaching approximately 1.6 billion pounds of copper and 1.3 million ounces of gold for the three-year period of 2027-2029.

In a conference call with securities analysts, FCX will review the incident, discuss future operating plans, and provide an update on its global business and ongoing initiatives to grow supplies of copper to meet increasing demand for this critical metal.

Freeport is a leading international metals company headquartered in Phoenix, Arizona. Its portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits, and significant operations in the U.S. and South America.

For more information about FCX, visit the company's website at fcx.com. Today the company's shares have moved 5.37% to a price of $41.095. For the full picture, make sure to review FREEPORT-MCMORAN INC's 8-K report.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.