What is the story about?
What's Happening?
Goldman Sachs has lowered its global copper supply forecast for 2025 and 2026 due to a disruption at Indonesia's Grasberg mine. The incident trapped workers underground, leading to a significant reduction in production estimates. The bank projects a total loss of 525,000 metric tons of copper supply.
Why It's Important?
The disruption at Grasberg impacts global copper supply, potentially affecting prices and market dynamics. It underscores the challenges faced by the mining industry, including operational risks and supply chain disruptions.
What's Next?
Grasberg's production is expected to resume partially in late 2025, with full operations anticipated in 2026. The disruption may lead to price adjustments and strategic shifts in copper sourcing.
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