Freeport-McMoRan(US:FCX) Xin Hua Cai Jing·2025-11-07 10:59Core Viewpoint - Freeport-McMoRan's Indonesian subsidiary, PTFI, has resumed operations at the Big Gossan and Deep Mill underground mines following a fatal mudslide incident at the Grasberg mine, which resulted in the suspension of production activities for safety reasons [1][2]. Group 1: Incident and Response - The mudslide at the Grasberg Block Cave mine occurred on September 8, resulting in the deaths of seven workers, prompting PTFI to halt all mining activities in the area [1]. - PTFI is seeking to restore mining operations at unaffected areas and has applied for the necessary permits, with the Indonesian government showing a willingness to consider the application, contingent on safety assurances [1]. Group 2: Production Outlook - PTFI anticipates a 35% reduction in copper production for 2026, projecting output to fall to 1.7 billion pounds, and gold production to approximately 1.6 million ounces [2]. - The company expects to fully recover to pre-incident production levels by 2027, although the timeline will depend on operational and regulatory approvals [2]. - The unaffected Big Gossan and Deep Mill mines are projected to resume operations by the fourth quarter of 2025, while the larger Grasberg Block Cave mine is expected to gradually restart production in 2026 [1].