July 12, 2018 / 10:47 AM / 11 days ago

Rio Tinto sells $3.5 bln stake in Grasberg copper mine to Indonesian state miner

July 12 (Reuters) - Mining company Rio Tinto on Thursday announced the sale of its 40 percent stake in the world’s second-biggest copper mine, Grasberg, for $3.5 billion to Indonesia’s state mining company PT Inalum.

Rio Tinto had a joint venture with Freeport-McMoRan, operator of Grasberg, for a 40 percent share of Grasberg’s production above specific levels until 2021 and 40 per cent of all production after 2021.

Reporting by Susan Mathew in Bengaluru Editing by David Goodman

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below