Freeport agrees to cede majority ownership of Grasberg mine to Indonesia owners

Freeport agrees to cede majority ownership of Grasberg mine to Indonesia owners

Processing facilities stand at Freeport McMoRan Inc.'s Grasberg copper and gold mining complex in Papua province, Indonesia, on Wednesday, April 22, 2015. Photographer: Dadang Tri/Bloomberg

After months of wrangling, Freeport-McMoRan Inc. agreed in principle to surrender majority ownership of its flagship Grasberg copper and gold mine to local Indonesian interests. Its shares slumped.

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