Freeport Targets Production Increase, Grasberg Block Cave Ready to Resume Production

JAKARTA - PT Freeport Indonesia (PTFI) states that production at the Grasberg Block Cave (GBC) mine could resume within the next 2 to 3 weeks. Production at the site was previously hampered by a landslide. President Director of PT Freeport Indonesia, Tony Wenas, said that within that timeframe, the company will strive to restore production, particularly at production blocks 2 and 3. Meanwhile, he noted, production block 1 will only resume operations next year or in 2027. Tony outlined that throughout 2026, Freeport Indonesia hopes to produce 1.1 billion pounds of copper and 800,000 troy ounces, or approximately 24.88 tonnes, of gold. In its progress, he mentioned that achieving this target is still hindered by technical issues in the underground mining process. Furthermore, the company is still facing various technical challenges, including those at the Grasberg Block Cave (GBC). “But hopefully, within the next 2-3 weeks, we can start production there and begin ramping up,” Tony stated. He explained that this year, Freeport Indonesia is not focusing on revenue targets. “Revenue depends on prices. But we plan our production, which we can control. Prices are not under our control,” he said. “So we control what we can, which is production and other operational aspects; those are what we target. Not profit targets,” Tony concluded. Previously, the Grasberg Block Cave (GBC) underground mine was targeted to resume operations in the first quarter of 2026.