December 5, 2017 / 7:59 AM / a year ago

Indonesia plans to acquire Rio Tinto interest in Freeport Indonesia mine

JAKARTA, Dec 5 (Reuters) - Indonesia plans to acquire Rio Tinto’s 40 percent participating interest in the giant Grasberg copper mine operated by the local unit of Freeport-McMoRan Inc, mining minister Ignasius Jonan said on Tuesday.

Indonesia plans in 2018 to complete the acquisition of Rio’s interest in the mine, as well as the purchase of a 51 percent stake in Freeport Indonesia by the state-owned enterprise ministry and other government units, Jonan said.

The government expects a written agreement on the matter in the near term, he said. (Reporting by Wilda Asmarini; Writing by Fergus Jensen; Editing by Tom Hogue)

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