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Freeport stock slides on Indonesian Grasberg copper/gold mine divestment plan

Creamer Media Deputy Editor: North America
The world’s largest publicly traded copper miner Freeport-McMoRan (FCX) has agreed, in principle, to divest its flagship asset, giving Indonesia a 51% stake of the massive Grasberg copper/gold mine. The Phoenix, Arizona-based miner's announcement sent the company’s NYSE-listed stock falling nearly 6% on Tuesday to $14.43 apiece in early trading.

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