Freeport Grasberg Recovery Back on Track with 80% Capacity Target by Mid-2027

Freeport-McMoRan's recovery efforts at Indonesia's Grasberg Block Cave are back on track after last year's deadly mudslide, which halted operations for nearly a month and killed seven workers. The miner expects to reach 80% of capacity by mid-2027 and be close to full capacity by the end of 2027, supported by material-handling upgrades due in early 2027 and a targeted restart of Production Block 1S by mid-2027.

The update has pushed Freeport's stock up 3.2% in early trading Friday, with investors closely watching the asset as it is a cornerstone for the miner. In its quarterly sales forecast, Freeport predicted third-quarter sales of 750 million pounds of copper and about 100,000 ounces of gold, below its July 2026 outlook, due to some gold sales being deferred.

The company also expects its average realized copper price for the quarter to top $6.50 a pound, although weather-related disruptions at some US sites are affecting production. Freeport's October 27 earnings report will be a key test of whether strong prices can offset choppy volumes while Grasberg works back toward steady output.