Freeport-McMoRan announced securing extended operating rights for its Grasberg mine in Indonesia through 2041, boosting its stock by 11.1%. The agreement includes retaining a 48.76% stake in PT Freeport Indonesia, future transfer of a 12% interest to government entities, and commitments to exploration and social investments. This deal significantly reduces long-term operational risk, shifting the investment focus more towards copper prices and operational execution in the short term.
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Freeport-McMoRan (FCX) Is Up 11.1% After Securing Extended Grasberg Operating Rights Through 2041
Freeport-McMoRan announced securing extended operating rights for its Grasberg mine in Indonesia through 2041, boosting its stock by 11.1%. The agreement includes retaining a 48.76% stake in PT Freeport Indonesia, future transfer of a 12% interest to government entities, and commitments to exploration and social investments. This deal significantly reduces long-term operational risk, shifting the investment focus more towards copper prices and operational execution in the short term.