Indonesia’s Inalum close to acquiring Rio interest in Grasberg copper mine: official

JAKARTA (Reuters) – Indonesia’s state-owned mining holding company, PT Inalum, is close to finalising a multi-billion-dollar deal to acquire Rio Tinto’s participating interest in the giant Grasberg copper mine, operated by Freeport McMoRan Inc, a government official said.

“Now we are preparing contracts. You could say it’s already completed – all that’s left is the finalization of documents that need to be signed,” Deputy State-Owned Enterprises Minister Fajar Kurniawan told reporters.

Kurniawan added that the acquisition valued at “below $4 billion” would be announced by the government “in the near future” and may be completed in July.

Reporting by Cindy Silviana; Writing by Fergus Jensen

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CORRECTED-Indonesia’s Inalum close to acquiring Rio interest in Grasberg copper mine -official