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Indonesia begins consolidation of state-owned miners

Holding company structure will help government take over Freeport mine

Workers enter a gold mine, operated by state miner Aneka Tambang at Cibaliung in Banten Province, Indonesia.   © Reuters

JAKARTA -- Indonesia finally began formal moves to merge four state-owned mining companies under one giant holding company, in order to allow it to take over large-scale concessions -- including one of the world's largest copper mines operated by U.S.-based Freeport-McMoRan.

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