ESG

"Freeport is prepared to discuss a path forward"

A letter from Freeport-McMoRan (US:FCX) CEO Richard Adkerson to the finance ministry, dated September 28, has been leaked and reportedly shows the miner strongly disagrees with the government's position on the valuation, timing and structure of the tentatively agreed 51% divestment of its Indonesian subsidiary.

Staff reporter
 Freeport's Richard Adkerson with finance minister Sri Mulyani Indrawati and energy minister Ignasius Jonan in August

Freeport's Richard Adkerson with finance minister Sri Mulyani Indrawati and energy minister Ignasius Jonan in August

Under a framework understanding struck on August 29, Freeport was to reduce its stake in its 90.6%-owned subsidiary PT Freeport Indonesia to 49% at "fair market value" along with other conditions, including...

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