Goldman lowers copper supply forecast on Grasberg disruption, sees deficit in 2025
Goldman Sachs has lowered its global copper supply forecast for both 2025 and 2026, citing recent disruptions at the world’s second-largest mine.Production at the Grasberg mine in Indonesia has been under suspension since Sept. 8 after a landslide unleashed 800,000 tonnes of mud into the Block Cave area, trapping seven workers and causing severe damage across the mine’s infrastructure.US-based Freeport McMoRan (NYSE: FCX), the mine’s operator, immediately halted mining activities to prioritize the rescue of ...