Freeport CEO Says Multiyear Saga at Grasberg Is Almost Over

Freeport-McMoRan Inc.’s chief executive says he’s reached “understandings” with Indonesia on every major condition in a package of agreements needed to sell part of its stake in the giant Grasberg copper-and-gold mine -- including the terms under which it will operate in the country for the next 20 years.

After all the “blood, sweat and tears,” the hardest work has been done, paving the way for a closing that will involve multiple documents changing hands simultaneously on a single day, Richard Adkerson said Thursday in a 90-minute interview.