Lates News

The component stock of the S&P 500 index, Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), plummeted by 10.6% in early trading on Wednesday after the company confirmed that a mudslide accident at its Grasberg Block Cave mine in Indonesia on September 8 had resulted in the deaths of two workers, with five other workers still missing. The company expects that it will not be able to restore production levels to pre-accident levels until at least 2027, with copper and gold production expected to decrease by approximately 35% in 2026 compared to previous expectations.