Freeport's Grasberg Block Cave Mine Production Targeted to Normalise in Two Weeks
Liputan6.com, Jakarta - Production at PT Freeport Indonesia’s (PTFI) Grasberg Block Cave (GBC) mine is expected to recover within the next 2-3 weeks. The site was previously hampered by the impact of a landslide some time ago.
PTFI President Director Tony Wenas stated that the company will begin restoring production within that timeframe, primarily at production blocks 2 and 3.
“Starting in about 2-3 weeks, we will begin ramping up production at Grasberg Block Cave. That will be at production block 2 and production block 3. Production block 1 is still next year (2027),” Tony said when met in the Widya Candra area, Jakarta, on Saturday night (21/3/2026).
He mentioned that the target for PTFI is to produce 1.1 billion pounds of copper and 800,000 troy ounces, or about 24.88 tonnes of gold. However, there are still technical obstacles in the underground mining process at the company’s mine.
“This year’s challenges will naturally involve higher costs, but for production challenges, we are resolving them and will soon begin mining at production blocks 2 and 3 in Grasberg Block Cave,” he explained.
“Yes, technical challenges, more technical challenges. But hopefully, in the near future, in 2-3 weeks, we can start production there and begin ramping up,” Tony added.
Focus on Achieving Production Targets
Tony stated that the company is not emphasising revenue targets for this year. Instead, he is more focused on increasing production.
“Revenue depends on prices. But for our production plans, we always plan what we can control. Prices are not something we control,” he said.
“So we control what we can: production and so on, operations—that’s what we have targets for. Not profit targets,” added the General Secretary of the Indonesia Mining Association (IMA).
Freeport Plans to Increase Investment
Previously, Minister of Investment and Downstreaming/Head of the Investment Coordinating Board (BKPM) Rosan Roeslani revealed that Freeport will increase its investment over the next 20 years. This is also related to the management of critical minerals.
Rosan stated that this presents an opportunity following the signing of a Memorandum of Understanding (MoU) by him, Freeport-McMoRan, and PT Freeport Indonesia.
“Yesterday, an MoU agreement was also signed between Freeport and the Indonesian Government, represented by us under the mandate given to us,” Rosan said during an online press conference on Friday (20/2/2026).
It is known that this refers to the Memorandum of Agreement on Critical Minerals, signed by Minister of Investment and Downstreaming/Head of BKPM Rosan Perkasa Roeslani, President & CEO of Freeport-McMoRan Kathleen Quirk, and President Director of PT Freeport Indonesia Tony Wenas. This is part of 11 MoUs that were signed.
What is the Value?
Rosan explained that through this MoU, Freeport can increase its investment by USD 20 billion, or equivalent to Rp 337.6 trillion (exchange rate Rp 16,884), over the next 20 years.
“Freeport can increase its investment by approximately USD 20 billion over the next 20 years, and this will also have a positive impact on tax revenues and other aspects,” he said.
“Therefore, this will certainly be followed up to become a definitive agreement in a short time,” Rosan added.