Freeport Indonesia: Grasberg Copper Mine has Resumed Operations

Sources revealed that Panama and First Quantum were about to reach an agreement on the Cobre Copper Mine. There was also good news that the Grasberg copper mine in Indonesia, which is owned by Freeport-McMoRan, has resumed operations.

The Grasberg copper mine in Indonesia has resumed normal operations after being hit by floods, Katri Krisnati, a spokesman for Freeport Copper, said in a text message on Wednesday, according to Reuters.

Earlier, according to Freeport, although there were no casualties, the mudslide damaged Grasberg's smelters and part of the road leading to the mine. Mining and mineral processing activities were forced to suspend in February. The company's chief executive Tony Wenas said in mid-February that a conveyor belt at the Freeport underground mine had been washed away in floodwaters, disrupting ore shipments. After the Grasberg incident, Freeport-McMoRan lowered its copper sales forecast for the first quarter of 2023 but did not give a clear forecast figure.