Freeport Indonesia Produces 276,000 Ounces of Gold in First Half of 2026
Freeport-McMoRan (FCX) recorded gold production from its mine in Tembagapura, Indonesia, of 276,000 ounces throughout the first half of 2026. The figure represents a 54% decline compared with the same period last year, which stood at 595,000 ounces.
FCX President and Chief Executive Officer Kathleen Quirk explained that the drop in production from the mine operated by PT Freeport Indonesia was due to upstream mining constraints following the mud rush incident at the Grasberg Block Cave (GBC) underground mine in September 2025.
Quirk assured that the company continues to monitor operational progress in Indonesia to maintain growth momentum in the global market.
“The Freeport team delivered strong results in the second quarter, supported by the solid execution of our operating plans and favourable prices for our products,” Quirk said in FCX’s first-half 2026 report, quoted on Tuesday (4 August 2026).
The decline was triggered by low ore processing rates due to the recovery phase at the Grasberg Block Cave underground mine following the September 2025 incident.
“Following the external mud rush incident in September 2025, PTFI has advanced a series of activities to address the incident and remains focused on increasing safe and sustainable operational capacity,” the FCX report stated.
On the sales side, the volume of gold sold during the first half of 2026 reached 234,000 ounces at an average realised price of US$4,709 per ounce. The company projects overall production levels to continue rising to 65% in the second half of 2026.
“PTFI’s overall production rates are expected to approach 65% in the second half of 2026, 80% by mid-2027, and near full capacity by the end of 2027,” the FCX report continued.
Besides gold, PTFI also produced 300 million pounds of copper during the first half of 2026. This figure was likewise down compared with the same period last year, which reached 655 million pounds.
Accordingly, the company is currently continuing to optimise operations at its refining facility, or smelter, in Gresik, East Java, to support production.