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US miner Freeport wins assurances on Indonesia future

The Freeport McMoRan's Grasberg mining complex, one of the world's biggest gold and copper mines located in Indonesia's remote eastern Papua provinceUS mining giant Freeport-McMoRan has won assurances on its future in Indonesia, allowing it to move forward with plans to invest $18 billion in the world’s biggest underground mine, the company and government officials said. Indonesia’s biggest miner, Freeport, has been a major target, and the company has been locked in negotiations with the government for years about its future. “Together with Freeport, we have reached a deal to maintain the continuity of long-term investment, with a value reaching $18 billion,” Sudirman Said, Indonesia’s energy and mineral resources minister, said late Thursday.

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