JAKARTA, July 26 Freeport McMoRan Copper & Gold
Inc's Indonesian subsidiary will offer a 5 percent stake
to the public and is in talks with three local smelters on
copper concentrate supply deals, company and government
officials said on Friday.
The moves could help pave the way for a deal in
long-running contract talks with the Indonesian government,
which is pushing miners, including the Freeport unit, to add
more value within the country.
The government has asked all miners to submit plans to
build refineries or smelters ahead of a January 2014 ban on raw
"The renegotiation talks are still ongoing," Industry
Minister Mohamad S. Hidayat told reporters. Freeport runs the
world's second-biggest copper mine, Grasberg, in west Papua
Arizona-based Freeport is the majority shareholder in the
Indonesian unit, with the Indonesian government its only other
shareholder with a 9.36 percent stake.