Freeport has no immediate plans to sell Grasberg copper and gold to Barrick

Feb 25, 2020 09:29

Source:SMM compilation

SMM2, March 25: Freeport CEO Richard Adkerson said Monday that there are no plans to sell its Grasberg copper and gold mine in Indonesia, which has partly reduced speculation that Barrick wants to buy Grasberg copper and gold mine.

Adkerson said that for Freeport, it is not yet appropriate to make a major strategic adjustment.

Earlier, Mark Bristow, chief executive of Barrick Gold, said there was no competitor in the acquisition of Freeport Grasberg Copper and Gold.

Asked yesterday if there was still an interest in Grasberg, Mr Barrick said the copper and gold mine was currently undervalued.

Copper is an important raw material in the construction industry and electric vehicle industry. According to SMM statistics, the proportion of copper consumption in each industry is as follows:

Freeport

Mining

Barrick

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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Freeport has no immediate plans to sell Grasberg copper and gold to Barrick

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