The decline was driven by a 16% drop in earnings for the metal recycling segment.

Copper prices rose for the first time in five sessions on Tuesday.

Indonesia is home to the flagship Grasberg copper-gold mine operated by Freeport, as well as the Manyar smelter.

The miner expects to reach processing capacity of 140,000 metric tons a day by 2030.

The metal is poised not just as a material of historical significance but as a pivotal element in driving forward the next phase of economic and technological progress.

The company reported results from the first six drill holes of the ongoing 9,000 metre Carn Brea drill program.

An extra 5.9 million oz. of gold, 3.3 billion pound of copper, 55.4 million oz. of silver and 51 million lb. of molybdenum were added.

The Ozernoye zinc mine, which would be Russia's largest, has been hit by the Western sanctions.