Goldman Sachs downgrades copper supply forecast after Grasberg mine disruption
ReutersSep 25, 2025 2:51 AM
Sept 25 (Reuters) - Goldman Sachs lowered on Thursday its global copper mine supply forecast for 2025 and 2026 following a disruption at Indonesia's Grasberg, the world's second-largest copper mine, which forced operator Freeport-McMoRan FCX.N to declare force majeure.
"We estimate there will be a total loss of 525 kt (kilotons) of copper mine supply as a result of the disruption," Goldman Sachs stated, cutting its H2 2025 global mine supply forecast by 160 kt and its 2026 forecast by 200 kt.
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