December 15, 2017 / 6:35 AM / a month ago

Rio Tinto not expected to relinquish interest in Freeport Indonesia copper mine until 2022 - government official

JAKARTA (Reuters) - Rio Tinto (RIO.AX)(RIO.L) is not expected until 2022 to relinquish its interest in the giant Grasberg copper mine in Indonesia operated by the local unit of Freeport McMoRan Inc(FCX.N), a government official said on Friday.

    “In 2022 it will automatically convert to a shareholding,” the official said, referring to Rio’s 40 percent participating interest in Grasberg under a joint venture with PT Freeport Indonesia.

    Reporting by Fergus Jensen

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