Freeport-McMoRan Copper & Gold Inc. Offers Government 9% Stake-Reuters

Reuters reported that Freeport-McMoRan Copper & Gold Inc. has offered a 9.36% stake in its Indonesia operations that run the second-biggest copper mine to the Southeast Asian country's government, a move aimed at deflecting pressure from new industry rules on project ownership. Indonesia's government, which already owns 9.36% of Freeport Indonesia, is pushing for a greater share of mining revenues through higher royalties and new rules announced in March that require foreign miners to divest 51% of assets after 10 years of production.