Freeport Will Divest 12% of Local Arm to Indonesia, CNBC Says

(Bloomberg) -- US miner Freeport-McMoRan Inc. has agreed to divest a 12% share in its Indonesian unit to the government for free, CNBC Indonesia reported, citing the head of the country’s Danantara sovereign wealth fund Rosan Roeslani. Freeport’s Chief Executive Officer Kathleen Quirk agreed to grant the shares to Indonesia “free of charge” when met by Roeslani in the US, he said in Jakarta on Tuesday. The divestment is part of an agreement to extend the company’s license to operate the giant Grasberg cop ...