Grasberg Mine Disruption Prompts Goldman Sachs Copper Supply Downgrade

On September 8, a huge flow of mud slammed into the underground workings of the Grasberg mine in Papua, Indonesia. Two workers died, and five remain missing. Freeport-McMoRan declared force majeure. The disruption is serious; it has forced Goldman Sachs to cut its global copper supply forecasts for 2025 and 2026. We are now facing a tighter copper market ahead.