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Rio Tinto confirms talks to sell $3.5bn Grasberg stake

By:  
Creamer Media Deputy Editor: North America
 
COPPER M&A
Multinational diversified miner Rio Tinto confirmed on Tuesday that it is in talks to potentially sell its stake in the Grasberg copper/gold mine, in Indonesia, to PT Indonesia Asahan Aluminium (Inalum) for $3.5-billion. Media rumours swirled on Tuesday about the deal, prompting Rio Tinto to make a public statement that “discussions between Rio Tinto, Inalum and joint venture (JV) partner Freeport-McMoRan are ongoing, including as to price. No agreement has been reached, and there is no certainty that binding agreements will be signed”.
 
 
 
 
 

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