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World’s Richest Mines Slipping From Hands of Multinationals

  • Rising nationalism leads countries to seize more of the bounty
  • Freeport set to cut Indonesian stake after decades of strife
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Outnumbered and outflanked, Freeport-McMoRan Inc. Chief Executive Officer Richard Adkerson made an about-face.

Only months before, Adkerson had dismissed the idea of selling a majority stake in the Phoenix-based company’s flagship Indonesian copper-and-gold mine to local investors. But, seated beside government officials in Jakarta last week, the veteran executive told reporters he planned to do just that.