Freeport-McMoRan Inc (NYSE:FCX) shares are trading lower Tuesday after the company announced a temporary suspension of operations at its Grasberg Block Cave mine in Papua, Indonesia. The halt in operations comes after a large flow of wet material blocked access to an area of the underground mine, trapping seven team members.
What To Know: The production halt at one of the world’s largest copper and gold deposits is rattling investors Tuesday. The Grasberg mine is a critical asset for Freeport-McMoRan, and any significant halt in production could negatively impact the company’s output and revenue forecasts.
