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Freeport-McMoRan expects lower consolidated sales for copper, gold in third quarter
Freeport-McMoRan said on Wednesday it was expecting consolidated sales to be lower by about 4% for copper and nearly 6% for gold in the third quarter, compared with its prior forecast, sending the miner's shares down 9% in premarket trading. Earlier this month, the company had temporarily halted mining in Indonesia's Grasberg mine after a large flow of wet material blocked access to parts of its underground mine, restricting evacuation routes for seven workers. Freeport last week located two team members who had been fatally injured in the incident. The company operates Grasberg, one of the world's largest gold and ... (full story)
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From msn.com | Sep 24, 2025
Two workers were found dead last weekend and five remain missing after a mud rush earlier this month at one of Freeport-McMoRan’s copper and gold mines in Indonesia, the company announced Wednesday. Around 800,000 metric tons of mud and debris entered the mine in the previously disclosed Sept. 8 incident, reaching the service level where the missing ...
Freeport declares force majeure at Grasberg and cuts its 2025 consolidated sales forecast by 4% for #copper and 6% for #gold vs July 2025 estimates, it says. Comes after unprecedented mud rush fatally injures 2 workers, leaves 5 missing. Search ongoing FREEPORT-MCMORAN INC - UPDATES ON MUD RUSH INCIDENT AT GRASBERG MINE FREEPORT-MCMORAN INC - PT FREEPORT INDONESIA CONFIRMS TWO FATALITIES FROM INCIDENT FREEPORT-MCMORAN INC - SEARCH ONGOING FOR FIVE MISSING PTFI TEAM MEMBERS FREEPORT-MCMORAN INC - MINING OPERATIONS AT GRASBERG…
From zerohedge.com | Sep 24, 2025
In what Goldman's commodity team dubbed a "black swan event", copper mining giaint Freeport-McMoRan (FCX) declared force majeure on contracted supplies from its giant Grasberg mine in Indonesia, the second-largest source of the metal, sending prices of the metal soaring. The US company also cut its copper and gold sales guidance for the quarter, now seeing ...
