Freeport, Rio formally yield control of giant Grasberg mine to Indonesia
By Cecilia Jamasmie Freeport McMoRan (NYSE:FCX) and Rio Tinto (LON:RIO) signed Thursday a final $3.9 billion agreement that gives Indonesia a majority stake in their Grasberg copper mine, the world’s second-largest, and which would be transferred to the state-owned mining company PT Indonesia Asahan Aluminium (Inalum). The “definitive” and “binding” agreement ends a long-drawn-out, three-way […]
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