Freeport declares force majeure at Grasberg after a deadly mud rush

About 800,000 tonnes of wet material flooded the Grasberg Block Cave mine in Indonesia on 8 September and trapped seven workers, who were later found dead. Freeport declared force majeure and said 2026 output at its Indonesian unit could be about 35% lower than planned. Its shares fell 10%, and copper prices rose to a 15-month high.

Why it matters. One accident at one of the world’s largest mines can tighten the whole copper market.

Source

Mining Weekly

In the course

Module 10: Risk and jurisdiction