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Freeport, Rio Tinto sign $3.85 billion agreement to sell majority stake in Grasberg mine to Indonesia's Inalum

( October 1, 2018, 04:23 GMT | Official Statement) -- MLex Summary: Freeport McMoRan and Rio Tinto have signed a binding agreement to give Indonesian state-owned enterprise PT Indonesia Asahan Aluminium, or Inalum, a majority stake in their Grasberg gold and copper mine in Indonesia for $3.85 billion. The deal, which is expected to close by the first quarter of 2019, marks Rio Tinto's exit from its joint venture with Freeport McMoRan and gives Inalum a total of 51.2 percent of Freeport Indonesia. The trasaction is subject to several conditions, including approvals from international competition authorities.The companies' full statements are attached. ...

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