You are here
Freeport makes compromise to end years of wrangling over Indonesian mining rights
By Wilda Asmarini and Hidayat Setiaji
Tuesday, August 29, 2017
JAKARTA, Indonesia -- Indonesia has reached a deal to let Freeport-McMoRan Inc. keep operating its giant Grasberg copper mine, after the U.S. company agreed to sell a majority stake to the government following years of wrangling.
Freeport said today it had made a "major concession and compromise" in agreeing to sell a 51 percent stake and to build a second smelter in Indonesia.
The company said the deal would be structured in a way that Freeport would retain control over the operations and governance of its Indonesian business.
"We are committed to completing the documentation as soon as possible during 2017," Chief Executive Richard Adkerson said in a statement. ...
... For the remainder of the report:
Buy metals at GoldMoney and enjoy international storage
GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:
Join GATA here:
New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit: