Freeport-McMoRan aims to sell 12% stake in Indonesian unit - CNBC

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Freeport-McMoRan (NYSE:FCX [https://seekingalpha.com/symbol/FCX]) +2% pre-market Tuesday following a report from CNBC Indonesia that the company has agreed to divest a 12% share in its Indonesian unit [https://www.bloomberg.com/news/articles/2025-09-30/freeport-will-divest-12-of-local-arm-to-indonesia-cnbc-says] to the government for free, according to Bloomberg.

Freeport (NYSE:FCX [https://seekingalpha.com/symbol/FCX]) CEO Kathleen Quirk reportedly agreed to grant the shares to Indonesia "free of charge" when she met Rosan Roeslani, the head of the country's Danantara sovereign wealth fund, in the U.S.

Indonesia's government already owns a 51% share of PT Freeport Indonesia (FCX [https://seekingalpha.com/symbol/FCX]) after the U.S. company agreed to sell the stake in 2018, and the additional divestment would be part of an agreement to extend Freeport's license to operate the giant Grasberg copper mine past 2041.

Freeport (FCX [https://seekingalpha.com/symbol/FCX]) recently declared force majeure at Grasberg after 800,000 tons of mud flooded underground tunnels at the mine, killing at least two workers; the incident caused the company to cut production guidance for this year and next, causing Freeport shares to plunge 18%.

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