Freeport-McMoRan Plummets 5.94% on $1.1B Volume as Indonesia Mine Shutdown Drives 65th Market Activity Rank

. 9, , ranking 65th in market activity. The selloff followed an operational suspension at its Grasberg Block Cave mine in Indonesia, where seven workers were temporarily trapped due to a blockage of wet material. The mine, a critical asset for the company, accounts for significant portions of its copper and gold production.

The production halt has heightened investor concerns over operational risks and potential impacts on output and revenue. Company leadership emphasized prioritizing the safe evacuation of personnel, with CEO stating the workforce’s safety remains the top priority. Analysts noted the incident underscores the volatility inherent in mining operations, particularly in complex underground environments.

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