23rd May 2018 08:53
LONDON (Alliance News) - Rio Tinto PLC said Wednesday it has received an offer for its entire stake in the Grasberg copper and gold mine in Indonesia.
The FTSE 100-listed mining company - responding to media reports of a deal - is considering a potential purchase by PT Indonesia Asahan Aluminium for Rio Tinto's entire interest in Grasberg for USD3.5 billion.
Rio Tinto emphasised no agreement has been reached and there is "no certainty" a binding agreement will be signed.
The mining giant owns a 40% share of production at Grasberg above "specific levels" until 2021 and 40% of all production after 2021.
Shares in Rio Tinto were down 2.1% to 4,323.50 pence each Wednesday morning.
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