Freeport Indonesia hopes flood-hit mine can partially resume before end-Feb miningnews
Grasberg mine on the island of New Guinea, one of the world’s biggest sources of copper and gold.
Copper miner Freeport Indonesia hopes production can be partially restarted before end-February, its chief executive said on Tuesday, afterFreeport-McMoRan Inc cut its first-quarter copper sales forecast after mining and processing activities at the site were temporarily halted due to damage caused to some facilities by heavy rain and mudflows.“We will try to be faster. There are two semi-auto grinders … Hopefully one can start earlier.
The mine typically produces nearly 5 million pounds of copper concentrate and 5,000 ounces of gold daily, the company has said. But the disruption will not affect the company’s long-term plan, Freeport Indonesia said. Freeport now expects its first-quarter sales to be lower than the previous outlook provided in January for 900 million pounds of copper and 300,000 ounces of gold, but it did not provide updated figures.
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