Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Commodities  >  Gold       XAUUSD

GOLD
My previous session
Most popular
SummaryQuotesChartsNewsAnalysis 
News SummaryAll newsTweets

Freeport Disagrees With Indonesia's $4 Billion Valuation of Grasberg Mine Stake

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/12/2017 | 09:24am CEST
   By I Made Sentana and Deden Sudrajat 
 

JAKARTA--Freeport-McMoRan Inc. disagrees with the Indonesian government's valuation of a 41.64% stake in the giant Grasberg copper and gold mine that the U.S. company has to sell to Indonesia.

Freeport values the stake at between $12 billion and $13 billion, but Jakarta values it at $4 billion, Napoleon Sawai, a spokesman for Freeport's local division PT Freeport Indonesia, said Tuesday.

"The teams from the two parties are still in a negotiation," Mr. Sawai said, adding Freeport hoped to reach an agreement by the end of the year.

In August, Freeport said it would give up its majority stake in the mine, dropping from 90.64% to 49%.

As part of a deal with Indonesia, the company's mining permit would be extended until as long as 2041.

Indonesia already owns 9.36% stake. It has given state-owned miner PT Indonesia Asahan Aluminium the job of acquiring the 41.64% stake.

Write to I Made Sentana at i-made.sentana@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
FREEPORT-MCMORAN 0.71% 12.83 Delayed Quote.-32.33%
GOLD 0.18% 1229.276 Delayed Quote.-6.40%
LME COPPER CASH -0.46% 6296 End-of-day quote.-12.32%
SILVER -0.16% 14.678 Delayed Quote.-13.62%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GOLD
10/15Materials Down, But Not by Much, As Weak Dollar Buoys Gold -- Materials Round..
DJ
10/15TOREX GOLD RESOURCES : Names Jody Kuzenko Chief Operating Officer
DJ
10/12DETOUR GOLD : Paulson rejects settlement with Detour Gold
RE
10/11Newmont Mining Ends Up 7.07%, Largest Percent Gain Since December 2016 -- Dat..
DJ
10/11Gold Hits Two-Month High on Stock Selloff
DJ
10/11Gold Hits Two-Month High on Stock Selloff
DJ
10/11BARRICK GOLD : maintains forecasts ahead of Randgold vote
RE
10/10BARRICK GOLD : Maintains Annual Forecast
DJ
10/09Gold nudges up on risk aversion amid China worries
RE
10/08Gold slips as dollar gains after China eases policy
RE
More news
Chart GOLD
Duration : Period :
Gold Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GOLD
Short TermMid-TermLong Term
TrendsBearishBearishNeutral