Freeport Unveils Indonesia Price But Plenty Left to Resolve

In what has become a pattern of two steps forward and one back, Freeport-McMoRan Inc. hailed a framework agreement that has been reached over its flagship copper-and-gold mine in Indonesia -- while acknowledging it’s far from definitive. “What we’ve done today, after months of hard work, is reach an important step towards progressing this framework agreement to point towards an ultimate consummation of it,” Chief Executive Officer Richard Adkerson said in a conference call Thursday. Earlier in Jakarta, Freeport and the Indonesian government announced a deal that confirms the price-tag to cede majority control of the Grasberg mine.