08:38 AM EST, 11/18/2025 (MT Newswires) -- Freeport-McMoRan ( FCX ) said Tuesday that it plans to restore large-scale production from PT Freeport Indonesia's Grasberg operations in Central Papua, Indonesia.

The company said it expects a phased restart and ramp-up of the Grasberg Block Cave underground mine beginning in Q2.

Freeport-McMoRan ( FCX ) said PT Freeport Indonesia's 2026 copper and gold production from Grasberg is estimated to be similar to 2025 volumes.

The company said production is set to rise throughout 2026 and 2027 with an average annual production of 1.6 billion pounds of copper and 1.3 million ounces of gold for the three-year period between 2027 to 2029.

Shares of the company were up 4% in recent Tuesday premarket activity.