HOTTER ON METALS: Grasberg deal a win-win for all parties

After years of negotiations, the future ownership of the Grasberg copper and gold mine has finally been determined, and it’s a win-win outcome.

Earlier on Thursday July 12, Rio Tinto and Freeport-McMoRan announced they had reached an agreement with the government of Indonesia that would eventually result in the latter’s ownership of Grasberg increasing to 51%. Technically, the deal has been agreed with PT Indonesia Asahan Aluminium (Inalum), an Indonesian state-owned enterprise, and provincial and local government. Holding a majority stake in the giant mine is a prerequisite that the government has refused to budge on for months, and has formed part of the complex negotiations being held since 2009 between the various parties over their...

Published

Andrea Hotter

July 12, 2018

17:00 GMT

New York