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Bloomberg: Rio holds talks with Indonesia about exit from Grasberg mine

Published 10/20/2017, 07:56 AM
© Reuters.  Bloomberg: Rio holds talks with Indonesia about exit from Grasberg mine
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  • Rio Tinto (NYSE:RIO) has held recent talks with Indonesian groups about a possible exit from its interest in the Grasberg copper and gold operation, Bloomberg reports.
  • Rio is studying a range of options that could enable it to sell its income stream asset that is part of the joint venture agreement with Grasberg operator Freeport McMoRan (NYSE:FCX), according to the report.
  • Rio last recorded any output from the Grasberg venture in 2014, according to filings, and stoppages and delays at the giant mine, including a strike this year, mean it could be 2023 before Rio receives its full entitlement share of output, FCX’s CFO said in January.
  • Now read: Freeport-McMoRan: Reversing Higher


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