Loading ...After pumping billions into Grasberg copper-gold mine in Indonesia for almost 25 years, Rio Tinto (ASX, LON, NYSE: RIO) might finally be about to see a decent return as the country’s government said Tuesday it plans to acquire the miner’s 40% stake in the coveted operation.
The move comes as Grasberg’s operator, US-based Freeport McMoRan (NYSE:FCX), agreed in August to divest 51% of PT Freeport Indonesia to the country’s government. But until today, it wasn’t clear what would happen to Rio’s interest in the mine.
cont. http://www.mining.com/indonesia-grab-rio-tinto-stake-grasberg-mine/