, Columnist
Indonesia Digs Itself Into a Hole
Indonesia's winning its battle over a Freeport-owned mine, but at what cost?
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What's a mine worth?
In theory, valuation could be based on the amount of salable metal it can produce. On that basis, Freeport-McMoRan Inc.'s Grasberg on the island of New Guinea is one of the best mines in the world, with the third-largest reserves of copper and one of the biggest gold deposits, worth more than $100 billion at current prices.