Freeport McMoRan is not interested in pulling the trigger on a deal for its Grasberg copper-gold mine in Indonesia, president and CEO Richard Adkerson said on Monday, tamping down speculation of a tie-up with Canadian miner Barrick Gold.
“Now’s just not the time for Freeport to think about doing a big strategic move," Adkerson said at the BMO Global Metals and Mining Conference in Hollywood, Florida.
Barrick CEO Mark Bristow has said the world’s No. 2 gold miner is eager to deepen its exposure to copper and has said he sees no competition in pursuit of a deal for Freeport’s flagship Grasberg mine.