Deals
Rio Holds Talks With Indonesia About Exit from Giant Mine
- Talks come as Indonesia, Freeport at loggerheads on ownership
- Freeport has valued its Indonesia operations at $16 billion
Freeport McMoRan's Grasberg copper and gold mining complex in Papua province, Indonesia.
Photographer: Dadang Tri/BloombergThis article is for subscribers only.
Rio Tinto Group has held talks with Indonesian groups, including state-owned PT Indonesia Asahan Aluminium, about a possible exit from its interest in the giant Grasberg copper and gold operation, according to people with knowledge of the matter.
Executives at Rio held meetings in recent weeks, including in Indonesia, on a potential sale of its income stream asset that’s part of the joint venture agreement with Grasberg’s operator Freeport-McMoRan Inc., said the people, asking not to be identified as details are private.