Freeport Indonesia reduces its 2025 production target by 9.9%

Freeport Indonesia's chief announced on Thursday that the company has reduced its target for 2025 copper concentrate production by almost a 10th, to 3,29 million tons. The firm is now aiming at a copper output of 1,67 billion pounds (757 499 metric tons), which is below last year’s production of about 1.8 billion pounds.

Freeport Indonesia Chief Executive Tony Wenas said at a parliamentary meeting that the miner's production in 2026 will drop to 3,15 million tons and 1,58 billion pounds copper.

Wenas stated that the lower production was due to the lower content. This is in line with our mine plan.

Freeport submitted an export request to the government, and is still awaiting a recommendation from the Mining Ministry to export.

Wenas stated, "We can get an export license immediately."

Freeport wants to export copper concentrates after being forced to stop production of copper cathodes at its new smelter, in Gresik in East Java Province, because of an October fire in its gas cleaning unit.

Freeport said that the excess stockpile of concentrate could reach 1.3 millions tons. Bahlil Lahadalia, the mining minister, had previously stated that the miner could get an export quota around 1,000,000 metric tons.

(source: Reuters)