July 12, 2018 / 10:29 AM / a year ago

Indonesia puts total value of acquisitions under Freeport deal at $3.85 billion

JAKARTA (Reuters) - Indonesia’s State-Owned Enterprises Minister Rini Soemarno said on Thursday state mining company PT Inalum will pay $3.85 billion to acquire a majority stake in the local unit of Freeport-McMoRan Inc.

She made the comments after Inalum and Freeport signed a heads of agreement that will give Indonesia control of the Grasberg mine, the world’s second-biggest copper mine.

Reporting by Jakarta bureau; Writing by Ed Davies; Editing by Christian Schmollinger

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