Indonesia, Freeport to transfer majority ownership in giant Grasberg copper mine

Indonesia, Freeport to transfer majority ownership in giant Grasberg copper mine

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

Indonesia and Freeport-McMoRan Inc. may sign a new agreement as soon as this weekend that will lay out a road-map for the transfer of majority ownership of the giant Grasberg copper and gold mine to a local firm, according to people familiar with the proposal.

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