Freeport awaits Papua decision over stake in Indonesian unit

Dec 27, 2006 | 07:42 AM | Sean Barry

Freeport-McMoRan Copper & Gold Inc., New Orleans, said it was still awaiting a decision by government authorities in Papua, Indonesia, to exercise an option to buy a 9.36-percent stake in its PT Freeport Indonesia unit.

Freeport bought the stake in Jakarta-based PT Freeport from PT Indocopper Investama in 2002. The acquisition took its holdings in the unit, which operates the big Grasberg copper and gold mine, to more than 90 percent,....

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