Rio eyes Grasberg exit
BY REUBEN ADAMS RIO Tinto is looking to offload its interest in the troubled Grasberg copper-gold operations for $US3.5 billion to an Indonesian State-owned entity. Rio confirmed ongoing discussions between the company, partner and mine operator Freeport McMoran, and potential State-owned buyer PT Indonesia Asahan Aluminium in May, but said no agreement over the sale had been reached, and there was “no certainty that binding agreements will be signed”. The Indonesian Government has been ramping up pressure on US-based Freeport to sell its majority stake in its Grasberg operations, which is expected to produce about 1.15 billion pounds of copper and 2.4 million ounces of gold for the 2018 calendar year. “We continue to engage in negotiations...