PT Freeport Indonesia (PTFI) plans to restore the Grasberg copper and gold mine to full production by late 2027. The facility is currently undergoing recovery following a mudflow in September 2025.
PTFI CEO Tony Wenas expects annual copper output to reach 1.2 billion pounds upon completion of the ramp-up. To bolster long-term liquidity, the company secured a $3.0 billion senior unsecured revolving credit facility maturing in 2031.
Freeport-McMoRan stock rose 2.37% to close at $62.31 on May 21. The price increase reflects positive investor sentiment regarding the production update and new financing.