Freeport McMoRan (NYSE: FCX) reported on October 2 that the Grasberg Block Cave underground mine in Indonesia is proceeding with a phased restart following a production halt of nearly a month triggered by a fatal mudslide last year. The asset supplies more than 25% of the company's total output and holds the distinction of being the world's second-largest copper mine and largest gold mine.
The miner detailed infrastructure improvements aimed at restoring volume, noting that upgrades to the transport layer material handling system are scheduled for completion by early 2027. Preparations for Production Block 1S are on track to resume operations around mid-2027 at 80% of design capacity, with the goal of reaching near-full load rates by the end of the year.
This disclosure provides the market with a defined schedule for recovering supply from a key global copper source after the incident resulted in seven fatalities. The timeline offers clarity on when the mine will contribute fully to free-world copper availability once rehabilitation works conclude.