Freeport McMoRan Copper & Gold Inc. wins lifetime mining rights extension for Grasberg Mine in Indonesia

LootboxPhobia · 2026-02-19T04:58:52+00:00

Freeport-McMoRan has reached an agreement with the Indonesian government to extend the mining rights for the Grasberg copper-gold mine until resource extraction is complete, and has committed to increasing exploration expenditures. The agreement will also maintain the company's 48.76% stake until 2041, after which 12% will be transferred to the Indonesian government. This extension is subject to government approval.

LootboxPhobia

2026-02-19 04:58:52

Abstract generation in progress

Investing.com - Freeport-McMoRan (NYSE:FCX) announced on Wednesday that the company has reached an agreement with the Indonesian government to extend the mining rights for the Grasberg copper-gold mine until resource extraction is complete, ensuring long-term access to one of the world’s largest deposits.

According to a memorandum of understanding, the special mining license for its subsidiary PT Freeport Indonesia will be revised to allow continued operations beyond the current license period, subject to final approval from the government.

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The agreement ensures the continuity of the existing governance and operational structure at the Grasberg mine in Papua.

Freeport-McMoRan will maintain its 48.76% stake in PT Freeport Indonesia until 2041, after which it will transfer a 12% stake free of charge to an Indonesian government entity, reducing its ownership to approximately 37%.

The agreement also commits Freeport-McMoRan to increase exploration spending and expand research efforts to develop Grasberg’s long-term resources and potential expansion projects.

This extension remains contingent upon the Indonesian government issuing a revised license reflecting the terms of the agreement.

This article was translated with the assistance of artificial intelligence. For more information, please see our Terms of Use.

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