Indonesia deal aims to extend giant Grasberg copper and gold mine

NodeGuardian · 2026-02-23T18:22:48+00:00

Freeport-McMoRan has signed an MOU with the Indonesian government to extend its operating rights in the Grasberg district, ensuring ongoing operations at a major copper and gold site, along with enhanced community support and exploration efforts.

NodeGuardian

2026-02-23 18:22:48

Abstract generation in progress

Freeport-McMoRan (NYSE: FCX) has announced a Memorandum of Understanding (MOU) with the Indonesian government to extend the operating rights for PT Freeport Indonesia (PTFI) in the Grasberg minerals district. This agreement provides for a life-of-resource extension, increased community support in Papua, enhanced exploration spending, and continued prioritization of domestic downstreaming. FCX will maintain a significant ownership interest in PTFI through 2041 and beyond, ensuring continued operations at one of the world’s largest copper and gold deposits.

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