The Arizona-based miner said remediation and preparation work in the Grasberg mineral district remains on schedule thereafter September 8, 2025 incidentwhen an estimated 800,000 tons of wet material entered the block cave, killing seven workers.
According to the company, its Indonesian subsidiary, PT Freeport Indonesia (PTFI), expects to start restarting production blocks 2 and 3 of the Grasberg Block Cave in the second quarter of 2026, with a gradual ramp-up thereafter. A possible restart of Production Block 1 is planned for 2027.
Based on current estimates, PTFI expects that approximately 85 percent of total production at normal operating rates will be restored in the second half of 2026.
The work required to resume mining, including the removal of mud from underground operations, repairs to key infrastructure and the installation of protective barriers, is progressing as planned, Freeport said. The investigation into the cause of the incident and the recovery measures will be completed in the fourth quarter of 2025.
Activities in other parts of the Grasberg complex have already resumed. In late October 2025, PTFI resumed production at the Deep Mill Level Zone (DMLZ) and Big Gossan underground mines, which were not affected by the mudslide.
These restarts provided some relief in production, but could not compensate for the loss of production from the Grasberg Block Cave, the district’s main ore source.
“As we enter 2026, our team has a clear focus on safely and sustainably restoring operations in Grasberg, and on continuing to build values in the Americas through our innovative growth and efficiency initiatives,” Freeport President and CEO Kathleen Quirk said in the company’s recent release. quarterly overview.
While Grasberg’s restart remains the central operational focus, Freeport’s latest quarterly results demonstrated the company’s financial resilience during the disruption.
In the fourth quarter of 2025, Freeport reported net income attributable to common stock of $406 million, or $0.28 per share. Adjusted net income totaled $688 million, or $0.47 per share, exceeding quarterly earnings expectations.
By 2026, Freeport expects consolidated sales of approximately 3.4 billion pounds of copper, 0.8 million ounces of gold and 90 million pounds of molybdenum, with these forecasts assuming a phased restart of the Grasberg Block Cave from the second quarter.
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Securities Disclosure: I, Giann Liguid, have no direct investment interest in any company mentioned in this article.
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