Grasberg Minerals District

One of the world's largest copper and gold deposits, operated by PT Freeport Indonesia (PTFI, 48.76% FCX) in the remote Sudirman Mountain Range highlands, Central Papua; ~24,600-acre operating area accessible via Arafura Sea portsite and Timika airport; sole operator since 1967. Three commissioned large-scale underground mines (Grasberg Block Cave, DMLZ, Big Gossan) with Kucing Liar in development; at normal rates underground operations produce ~1.7 blb copper and ~1.3 Moz gold per year among the lowest-cost operations globally. September 8, 2025 mud rush incident caused seven fatalities and suspension of Grasberg Block Cave; DMLZ and Big Gossan restarted late October 2025; GBC phased restart from Q2-2026. IUPK mining rights through 2041 (extension beyond 2041 under discussion). Reserves reflect recovery through 2041. One of FCX's three S-K 1300 material properties (TRS Exhibit 96.1).