Freeport Indonesia targets 478 000 t of copper cathode output in 2026
Freeport Indonesia plans to produce 478 000 metric tons of copper cathode and 26 tons of gold in 2026, lower than its initial plan due to an ongoing recovery process following a mud flow accident, CEO Tony Wenas said on Monday.
A mud flow in September at Freeport's Grasberg Block Cave (GBC) killed seven workers and resulted in the suspension of operations at the mine, which accounts for the majority of output from the Grasberg complex.
"We continue to conduct the recovery at Grasberg Block Cave with a target to begin operating this mine in the first quarter of 2026," Wenas said.
Freeport Indonesia has revised down its production plans for next year, Wenas said. The company had initially targeted around 700 000 tons of copper output and 45 tons of gold.
The company forecast $8.3-billion in sales revenue next year, only slightly lower than an initial target of $8.5-billion as it expects the prices of copper and gold to be higher.
Freeport's copper sales are also expected to be 30% lower than initially planned in 2025, with gold sales 50% lower, though revenues are likely to decline by just 18% due to higher copper prices.
The company estimates 537 000 tons of copper metal sales and 33 tons of gold sales in 2025.
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