Indonesia’s Danantara Says Freeport Stake Will Have a Cost

Indonesia is close to reaching a deal with Freeport-McMoRan Inc that would see it take an additional stake in the US giant’s Grasberg mine for an undisclosed price, according to the chief investment officer of the country’s Danantara sovereign wealth fund.

The government took a majority stake in PT Freeport Indonesia, which operates the site, back in 2018, but officials including Danantara’s chief executive, Rosan Roeslani, have since said Jakarta could take additional shares, potentially without payment.