08:28 AM EDT, 10/16/2024 (MT Newswires) -- Freeport-McMoRan ( FCX ) will shelve sales of refined copper from its Manyar smelter in Indonesia until Q2 2025 following a fire at the site, Reuters reported, citing two sources with knowledge of the matter.

The fire occurred at a sulphuric acid unit and was extinguished late Monday, the report said, citing a company statement. Damage assessments and a root cause evaluation are underway, it added.

Freeport is also seeking an extension of its copper concentrate export license, which expires at the end of 2024, to Q1 2025, sources told Reuters.

Freeport McMoRan ( FCX ) did not immediately respond to MT Newswires' request for comment.

Shares of the company were up 1.3% in recent premarket activity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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