World’s No.2 miner Rio Tinto (ASX, LON, NYSE: RIO) confirmed Wednesday is ready to sell its stake in the giant Grasberg mine to Indonesia’s state mining holding company Inalum for $3.5 billion, which could mark the end to a long-drawn-out, three-way dispute over the operation, the world’s second largest copper mine.
Discussions with Inalum and miner Freeport were ongoing, Rio Tinto said in a statement, “including as to price,” noting reports of a potential $3.5 billion purchase price.
No agreement had been reached and there was “no certainty that binding agreements will be signed,” it said.
More to come…
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From:: Mining.com