Grasberg Block Cave

Block-cave underground mine on the same ore body historically mined from the Grasberg open pit; 470 open drawbells at Dec 31, 2025. Igneous-hosted (Grasberg monzodiorite) vein stockwork copper-gold mineralization dominated by chalcopyrite. Automated rail haulage (14 locomotives, 160 ore wagons) feeding 3 underground gyratory crushers; ~520 pieces of mobile equipment. Undercutting, drawbell construction and ore extraction temporarily suspended following the September 8, 2025 mud rush incident (seven fatalities); phased restart and ramp-up anticipated to begin in second-quarter 2026. Ore milled averaged 78,400 t/d in 2025, 133,800 t/d in 2024, 117,300 t/d in 2023.