Freeport Indonesia's Grasberg Contract Extension, Share Divestment & Investment
Freeport Indonesia, the local unit of US-based energy and mining giant Freeport-McMoRan Inc, will be allowed by the Indonesian government to operate the Grasberg mine in Papua (the world’s largest gold mine and third-largest copper mine) beyond 2021 (when the existing contract expires). Sudirman Said, Indonesian Minister of Energy and Mineral Resources, told reporters that the central government has provided assurances to Freeport. However, it will require a regulatory amendment first before Freeport Indonesia can submit a proposal for extension.
