Freeport Targets 21 Tons of Gold in 2026 Despite New Mine Capacity at 65%
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- PT Freeport Indonesia memproyeksikan produksi 700.000 ons emas (setara 21 ton) dan 800 juta pon tembaga pada 2026, kendati operasi hanya berjalan 65% dari kapasitas normal.
- Pemulihan pasca longsor material basah September 2025 membuat pengolahan bijih dibatasi 124.000 ton per hari, jauh di bawah kapasitas normal 200.000 ton.
- Produksi akan menanjak bertahap: 31 ton emas pada 2027 dan mendekati 39–40 ton pada 2028 seiring pulihnya Grasberg Block Caving.
PT Freeport Indonesia (PTFI) is targeting gold production of 700,000 ounces, equivalent to 21 tons, in 2026, even though mining activity is still running below normal capacity. The target was presented by PTFI President Director Tony Wenas during a hearing (RDP) of Commission XII of the Indonesian House of Representatives (DPR RI) in Jakarta on Tuesday (16/9/2026).
The figure is lower than the full potential of the Grasberg mine, which according to Tony could reach 39–40 tons of gold per year. The cause is an incident involving a wet material landslide in September 2025 that left ore processing capacity this year projected at only 124,000 tons per day, or about 65% of the normal capacity of 200,000 tons per day.
Besides gold, PTFI projects production of 800 million pounds of copper in 2026. From its Precious Metal Refinery, the company also estimates it will produce 103 tons of silver bars, 1.4 million tons of sulfuric acid, and 900,000 tons of copper slag.
Tony explained that the production increase will proceed gradually as the Grasberg Block Caving (GBC) area affected by the landslide recovers. In 2027, mining capacity is targeted to rise to 170,000 tons of ore per day with gold production of around 31 tons, before approaching full capacity in 2028.
"This increase in production levels is in line with the recovery of the Grasberg Block Caving that was hit by the landslide last year," Tony said.
For Indonesia, Freeport's production fluctuations are not merely a corporate matter. PTFI is one of the largest contributors to state revenue from the mineral sector, through royalties, taxes, and dividends. The decline in output this year could weigh on fiscal receipts from the mining sector, although high commodity prices may offset it.
On the other hand, the lower production target also affects global supply of copper and gold. Freeport Indonesia is one of the world's largest copper producers, so operational disruptions can affect international prices. For investors, it is worth watching whether the GBC recovery proceeds on schedule or whether there is a risk of delays that could change the revenue projections of mining issuers on the Indonesia Stock Exchange.
The government itself has a dual interest: encouraging higher production for state revenue, while ensuring mining operations run safely and sustainably. Going forward, the question is how quickly Grasberg recovers and whether the 2027–2028 targets can be met without technical or regulatory obstacles.
