Newcrest, which is currently focused on mines in Australia, Indonesia and Papua New Guinea, will acquire a 70% JV interest in the Red Chris copper and
They are expanding their horizons and acquiring struggling North American rivals.
A deal for the underground mining operation in New South Wales state could be announced as soon as Tuesday.
Under the new deal, Inalum will seek to acquire London-based Rio Tinto Group’s joint venture interest in Grasberg by March.
Miners are accelerating efforts to examine renewable power generation and storage in an act of self-help.
Shandong, one of biggest Chinese miners of the metal, is among firms considering bids for EMR Capital’s Indonesian mine.
It recently sold $2.45 billion of Australian mines to a Chinese firm.
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