Freeport Sees Gold Output Hitting 21 Tons in 2026 as Grasberg Recovers

JAKARTA, Investortrust.id — PT Freeport Indonesia (PTFI), operator of one of the world's premier copper and gold complexes, projects mineral production will rebound over the coming years as extraction operations recover from a severe mud rush that disrupted its underground Grasberg Block Cave mine in September 2025.

Ore throughput is slated to climb steadily before returning near baseline capacity by 2028, company leadership told lawmakers.

PTFI President Director Tony Wenas outlined that mining output is projected to average 124,000 metric tons (136,687 short tons) of ore per day throughout 2026, representing approximately 65% of the mine's standard capacity of around 200,000 metric tons (220,462 short tons) per day.

"This year we are at 124,000 metric tons of ore per day. Next year, we will be able to reach 170,000 metric tons of ore per day, or about 75% of our normal capacity, and approach 100% in 2028," Wenas said during a parliamentary hearing with Commission XII of the House of Representatives in Jakarta on Tuesday, Sept. 15, 2026.

Grasberg ranks among the most critical assets in global metal supply chains, and operational interruptions at the remote Highland Papua complex immediately tighten worldwide copper and gold balances. As global demand for critical transition metals accelerates and gold hovers near historic highs, PTFI's operational recovery directly anchors export royalties, corporate dividends, and state tax revenues for the Indonesian treasury.

Overcoming Underground Disruptions

Wenas explained that the production pullback throughout 2026 is the lingering consequence of an inflow of wet material that struck underground workings in September 2025.

The incident forced the operator to engineer structural modifications across underground haulage equipment and chute gallery infrastructure to protect long-term operating safety and operational continuity.

"In 2028, extraction will be able to reach 208,000 metric tons of ore per day. Furthermore, in 2029 and 2030, that could exceed 220,000 metric tons of ore per day," Wenas said.

Metal Output Projections

In tandem with accelerating ore milling rates, PT Freeport Indonesia projects finished metal yields to expand significantly over the next two years as operations recover. For 2026, the company is targeting approximately 800 million pounds (362,874 metric tons) of copper and 700,000 ounces (21.77 metric tons) of gold. Production is set to climb sharply in 2027 to roughly 1.3 billion pounds (589,670 metric tons) of copper and 1 million ounces (31.10 metric tons) of gold, before scaling to long-term annual run rates of 1.6 billion pounds (725,748 metric tons) of copper and 1.3 million ounces (around 39 to 40 metric tons) of gold by 2028 and beyond.

Kucing Liar Anchors Next Growth Frontier

Beyond rehabilitating the Grasberg Block Cave system, the mining giant has commenced underground development at its deep-seated Kucing Liar deposit, positioned as the next primary production engine for the company's long-term horizon.

"This production increase moves in tandem with the rehabilitation of Grasberg Block Cave," Wenas said on Tuesday. "I can inform you here that the Kucing Liar mine, which represents our future, has already entered the development phase."

Development schedules target commercial production from Kucing Liar to commence by 2029. Backed by new tonnage from Kucing Liar and restored capacity at Grasberg Block Cave, Freeport plans to lift consolidated daily ore processing rates above 220,000 metric tons (242,508 short tons) per day between 2029 and 2030.