Freeport-McMoRan Inc. (FCX) has confirmed it will maintain its 49% ownership in PT Freeport Indonesia (PTFI) until 2041. After that period, FCX will hold approximately 37% of the shares in Indonesia’s largest copper and gold mining company.“FCX plans to maintain its ownership interest at approximately 49% through 2041 and will own approximately 37% after 2041. The existing governance agreements will continue for the life of the resource,” the U.S.-based company stated in its third-quarter 2025 financial report released on Friday, October 24, 2025.In the report, Freeport-McMoRan noted that PTFI currently operates three large-scale underground mines in the Grasberg minerals district—Grasberg Block Cave, DMLZ, and Big Gossan—along with related mill expansions.At normal operating rates, PTFI’s underground mines are capable of producing about 1.7 billion pounds of copper and 1.4 million ounces of gold per year, making it one of the lowest-cost operations in the world.PTFI is also continuing exploration in the Grasberg district with the aim of expanding significant mineralization potential beneath the DMLZ mine.However, on September 8, 2025, PTFI experienced a mud eruption incident at the Grasberg Block Cave underground mine.“Operations were temporarily suspended, and a phased ramp-up to restore production is currently being planned,” said FCX President and CEO Kathleen Quirk.In addition, PTFI is developing a long-term mining project at the Kucing Liar deposit, also within the Grasberg area. The project is expected to produce more than 7 billion pounds of copper and 6 million ounces of gold between 2029 and the end of 2041.Extension of operating rights beyond 2041 would extend the life of the project.
Source https://djakarta-miningclub.com