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Freeport gains, Indonesia mine ramp-up on track

By Reuters News13:48 (UTC), 2 October 2026 Updated

** Freeport-McMoRan FCX.N shares rise 2.8% to $71.19

** The US copper miner says ramp-up at Indonesia's Grasberg copper and gold mine in line with expectations

** Keeps forecast of reaching 80% capacity in mid-2027, nearing full capacity by end-2027

** Says Q3 consolidated copper production of ~830 mln pounds in line with expectations; relatively better international operations offset slightly lower US production

** Q3 consolidated gold production of ~230,000 ounces nearly met expectations

** Sees Q3 copper sales meeting July forecast, but gold sales missing due to deferred shipments

** Including sessions moves, stock up 36.40% YTD

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