Freeport-McMoRan reaffirmed the production ramp-up schedule for the Grasberg copper and gold mine in Indonesia. The company reiterated this plan following first-quarter results and at a Bank of America conference.
The schedule aims to restore full output by the end of 2027. This follows a previous mudslide event.
Freeport expects to reach 65% of production capacity in the second half of 2026. The company targets 80% capacity by mid-2027.
Freeport shares fell 4.7% on May 15. This decline followed a reduced 2026 copper sales outlook caused by disruptions.