|Bid||0.00 x 1800|
|Ask||0.00 x 800|
|Day's range||16.46 - 17.13|
|52-week range||12.72 - 20.25|
|PE ratio (TTM)||10.69|
|Earnings date||25 Jul 2018|
|Forward dividend & yield||0.20 (1.10%)|
|1y target est||19.64|
Is Freeport’s Grasberg Transaction a Win-Win? While Freeport-McMoRan (FCX) has announced a transaction price for its stake in PT Freeport Indonesia (or PT-FI), the company is yet to sign a definitive agreement.
Is Freeport’s Grasberg Transaction a Win-Win? As noted previously, Freeport-McMoRan (FCX) announced its stake sale in PT Freeport Indonesia (or PT-FI). The Indonesian government (EIDO) achieved two objectives from the transaction.
On July 12, Freeport-McMoRan (FCX), the leading US-based copper miner, announced that the company would sell a small stake in PT Freeport Indonesia (or PT-FI). Rio Tinto (RIO) will sell its entire stake in PT-FI. PT Indonesia Asahan Aluminium (Inalum), a state-owned enterprise, plans to acquire the stakes and emerge as the largest shareholder in PT-FI after the deal closes.
PLC have agreed to hand over control of the world’s second-biggest copper mine to Indonesia, moving closer to resolving one of the world’s most prominent recent battles over resource wealth. Thursday’s agreement comes after years of tense negotiations and follows moves by governments around the world, from the Democratic Republic of Congo to Tanzania, to wrest control of mines and take a bigger cut of profits. The deal also illustrates the dilemma facing large mining companies, which often sink billions of dollars into projects in far-flung places only to face unpredictable laws and yearslong battles.
JAKARTA/TORONTO (Reuters) - Freeport-McMoRan Inc said on Thursday it will sell a majority stake in the world's second-biggest copper mine to the Indonesian government, seemingly ending a long-running dispute via a series of complex deals worth $3.85 billion (£2.91 billion). The agreement, which could still collapse, will see Freeport give up majority control but remain the operator of the Grasberg mine, located in the country's eastern province of Papua, as Jakarta seeks to gain greater control over its mineral wealth. Freeport accepted far less than it could have gotten for its majority Grasberg stake, highlighting the company's desire to end an acrimonious chapter that had weighed on its shares for more than six years.
On July 12, Freeport-McMoRan (FCX) announced that “it has entered into a Heads of Agreement with the Indonesian state-owned enterprise PT Indonesia Asahan Aluminium (Inalum) and PT Freeport Indonesia’s (or PT-FI) joint venture partner Rio Tinto.” Under the terms of the agreement, while Rio Tinto (RIO) will sell the entire stake in PT-FI, Freeport will divest a minority stake.
Indonesia struck an agreement on Thursday with Freeport-McMoRan Inc and Rio Tinto to buy a controlling stake in the world's second-biggest copper mine via a series of transactions valued at $3.85 billion. The deal should cap more than six years of wrangling over the rights for the Grasberg mine, located in the country's eastern province of Papua, as Jakarta seeks to gain greater control over its mineral wealth. "It's a new day for Freeport, and a new day for our working with the government," Freeport Chief Executive Officer Richard Adkerson said on a conference call with investors after a signing ceremony in Jakarta.
Rio Tinto had a joint venture with Freeport-McMoRan, operator of Grasberg, for a 40 percent share of Grasberg's production above specific levels until 2021 and 40 per cent of all production after 2021. Freeport-McMoRan separately said it will receive $350 million from PT Inalum after the stake sale.
Indonesia will take a controlling stake in one of the world's biggest gold and copper mines for $3.85 billion, the government said Thursday, as it moves to claw back control of the country's vast natural resources. The agreement requires US-based Freeport-McMoRan to cede its ownership stake, but it will keep operating the huge complex in the jungles of Indonesia's Papua province, officials said. Anglo-Australian mining giant Rio Tinto is also selling its interest in the mine as part of an agreement that the government said it hopes to finalise before the end of the year.
Freeport-McMoRan Inc. (FCX) announced today that it has entered into a Heads of Agreement with the Indonesian state-owned enterprise PT Indonesia Asahan Aluminium (Inalum) and PT Freeport Indonesia's (PT-FI) joint venture partner Rio Tinto. Under the terms of the non-binding Heads of Agreement, Inalum will acquire for cash consideration of $3.85 billion all of Rio Tinto's interests associated with its Joint Venture with PT-FI (the “Joint Venture”), and 100 percent of FCX's interests in PT Indocopper Investama (PT-II), which owns 9.36 percent of PT-FI.
, the world’s second-biggest copper mine, for $3.5bn, a deal that would open its share register to a wider range of investors. by the country’s President Joko Widodo to boost local ownership of natural resources. Once these transactions have been completed and Rio’s interest converted into equity, Inalum will emerge with a 51 per cent interest in Grasberg.
Indonesia will take a majority stake in one of the world's biggest gold and copper mines, the government said Thursday, as it moves to claw back control of its natural resources. State-owned mining firm Inalum is to assume a 51 percent interest in the Grasberg mine under an agreement to be signed later in the day, President Joko Widodo said. Indonesia currently holds just under 10 percent of the mine, which is owned and operated by a unit of US-based Freeport-McMoRan.
JAKARTA (Reuters) - Indonesian President Joko Widodo said on Thursday that state-owned mining company PT Inalum has reached an initial agreement with Freeport-McMoRan Inc to increase its stake in Freeport's local unit to 51 percent.
Have Markets Priced in Freeport-McMoRan's Grasberg Resolution? Freeport-McMoRan (FCX) and the government of Indonesia (EIDO) are in talks regarding Freeport’s long-term mining rights in the country. Additionally, Rio Tinto (RIO), which holds a minority stake in Grasberg, is negotiating a stake sale with the Indonesian government.
Freeport-McMoRan (FCX) has received a “strong buy” rating from one analyst, while seven have “buy” or equivalent ratings on its stock. Three analysts have “sell” ratings on Freeport, while 11 have “hold” ratings. Freeport has the highest percentage of “hold” ratings among the companies we’re covering in this series.
Investors need to pay close attention to Freeport-McMoRan (FCX) stock based on the movements in the options market lately.
Indonesia has extended a temporary operating permit for Freeport McMoRan Inc's Grasberg project, the world's second-biggest copper mine, until the end of the month while discussions continue over long-term rights. Freeport's local unit, PT Freeport Indonesia (PTFI), has been given a temporary operating permit for Grasberg until July 31, Coal and Minerals Director General Bambang Gatot Ariyono told reporters at a press conference on Wednesday. Phoenix, Arizona-based Freeport has been in negotiations with Indonesia to secure long-term operating rights at Grasberg after the government introduced new rules last year aimed at giving Jakarta greater control over the nation's resources.
The Indonesian government said it could finalise as soon as this week a long-awaited deal in which a local company will take majority control of the country’s biggest copper mine from the world’s largest publicly traded copper company, Freeport-McMoran. An official from the Indonesian state-owned enterprises ministry told local media in Jakarta at the weekend that talks have been completed and an agreement could be signed this week for a transfer of control of the massive Grasberg mine from Freeport and its partner Rio Tinto to Indonesian state-owned resources group Inalum. Freeport was told to sell a part of Grasberg to local investors to meet requirements for government ownership of at least 51 per cent of the asset.
Indonesia's state-owned mining holding company PT Inalum is close to finalising a multi-billion-dollar deal to acquire a majority stake in the giant Grasberg copper mine, government officials said on Saturday. Situated in Indonesia's eastern-most province of Papua, Grasberg, the world's second-largest copper mine, is owned and operated by Freeport Indonesia (PTFI), a subsidiary of U.S.-based Freeport McMoRan Copper & Gold Inc. . Global miner Rio Tinto has a joint venture with Freeport for a 40 per cent share of Grasberg's production above specific levels until 2021, and 40 per cent of all production after 2021.
Freeport-McMoRan Inc. today declared a cash dividend of $0.05 per share payable on August 1, 2018 to holders of record as of July 13, 2018 for its common stock.
Freeport is in tense negotiations with Indonesia over a key mine. Here's what the miner's business will look like if it has to walk away from that asset.
The content of this article will benefit those of you who are starting to educate yourself about investing in the stock market and want a simplistic look at the returnRead More...
Freeport-McMoRan (FCX) is negotiating its long-term mining rights in Indonesia (EIDO). Rio Tinto (RIO) (TRQ), Freeport’s junior partner at the Grasberg mine in Indonesia, is discussing a separate stake sale with the Indonesian government.
Commodity markets are said to be in a “surplus” when the supply exceeds the demand. Most market participants, including companies like Freeport-McMoRan (FCX), expect the markets to be in a structural deficit by the end of this decade. In the short term, the outlook has become a little hazy. China’s copper imports, which are seen as a leading indicator of the country’s copper demand, have been strong.