Freeport Indonesia aims to produce 478,000 tons copper cathode in 2026

Freeport Indonesia will produce 478, 000 metric tons copper cathode, and 26 tons gold by 2026. This is lower than the initial plan, due to a recovery process that continues following a mudflow accident. Chief executive Tony Wenas announced this on Monday.

Seven workers were killed by a mudflow in September in Freeport's Grasberg Block Cave. The mine, which produces the bulk of the Grasberg Complex output, was forced to suspend operations.

Wenas stated that "we continue to conduct recovery at Grasberg block cave with a goal to begin operating the mine in the first quarterly of 2026."

Wenas reported that Freeport Indonesia had revised its production plans down for the next year. Wenas said that the company initially planned to produce 700,000 tonnes of copper and 45 tons gold.

The company expects to generate sales of $8.3 billion next year. This is only slightly less than the initial target of $8.5 million, as they anticipate that copper and gold prices will be higher.

Freeport's copper and gold sales will also be lower in 2025 than originally planned, but revenues are expected to drop only 18% because of higher copper prices.

The company expects to sell 537,000 tons copper metal and 33 tons gold by 2025. (Reporting and editing by David Stanway, Fransiska Naangoy and Dewi Kurniawati)

(source: Reuters)