Skip to content
Subscriber Only

Freeport Hopes for 2017 Deal From ‘Complex’ Indonesian Talks

  • CEO Adkerson says gap has narrowed on valuation of Grasberg
  • Rio Tinto will also be obligated to divest, Adkerson says
A stacker loads ore onto stockpiles at Freeport McMoRan Inc.'s Grasberg copper and gold mining complex in Papua province, Indonesia, on April 22, 2015.
Photographer: Dadang Tri/Bloomberg
Updated on

Freeport-McMoRan Inc. signaled it’s made progress with Indonesia on how to value its flagship Grasberg mine, but warned that the final stages of divestment negotiations are complex.

“We are working with the government to have a complete resolution of those issues, and the current goal that we’re both working on is by the end of the year,” Chief Executive Officer Richard Adkerson said from Jakarta during a two-hour long earnings call that was, once again, dominated by questions about Indonesia. “It would be a comprehensive and final agreement.”