ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Business deals

Indonesia to take control of Freeport's largest gold, copper mine for $3.8bn

Widodo concludes 'tough' negotiations, grants US miner 20-year role in Papua

The open-pit mine of  Freeport's Grasberg copper and gold mine complex in Indonesia   © Reuters

JAKARTA -- State-owned mining holding company Indonesia Asahan Aluminum on Thursday signed an agreement with Freeport-McMoRan that will see it take control of the U.S. miner's local unit for $3.85 billion.

The deal includes Australian miner Rio Tinto's participating interest in Freeport Indonesia's operations at the Grasberg mine in Papua province, one of the world's largest gold and copper pits.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more