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BARRY FITZGERALD
Rio has lingered too long at Grasberg
RIO Tinto is set to sell out of the copper-gold wonder that is the Freeport-McMoRan-operated Grasberg mine, high in the remote and glacier-capped Sudirman mountain range in Indonesia’s Papua province, for a suggested US$3.5 billion. Not before time either, writes <b>Barry FitzGerald</b>.
The Grasberg pit
Rio or RTZ as it was has been there since 1995, having beaten what was its Australian-listed subsidiary CRA to the punch when Freeport went looking for funds to finance the development of Grasberg (grass...
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