Freeport-McMoRan says Grasberg PB 2/3 production limited over next 12 months

Says Grasberg remediation for opening of PB 2/3 completed on schedule, initial mining commenced in March. Says number of wet drawpoints in PB 2/3 increased following extended period of inactivity. Says commenced required modifications to rail loading infrastructure to achieve full ramp-up. Says PB 2/3 production limited over the next 12 month. Says majority of bottlenecks to be addressed by mid-2027. Says ‘confident’ in the quality of the resource and ability to operate large-scale underground mining safely and efficiently long-term. Says PB 1S restart planned in mid-2027. Sees potential PB 1C restart by YE27.