Freeport-McMoRan (FCX) Is Up 11.1% After Securing Extended Grasberg Operating Rights Through 2041
In February 2026, Freeport-McMoRan announced it had signed a Memorandum of Understanding with the Indonesian government to extend life-of-resource operating rights for PT Freeport Indonesia at the Grasberg minerals district, alongside commitments for higher exploration spending and expanded social investments in Papua. A key feature of the agreement is that Freeport-McMoRan will retain its 48.76% stake in PT Freeport Indonesia through 2041, then transfer a 12% interest to government-aligned...
In February 2026, Freeport-McMoRan announced it had signed a Memorandum of Understanding with the Indonesian government to extend life-of-resource operating rights for PT Freeport Indonesia at the Grasberg minerals district, alongside commitments for higher exploration spending and expanded social investments in Papua. A key feature of the agreement is that Freeport-McMoRan will retain its 48.76% stake in PT Freeport Indonesia through 2041, then transfer a 12% interest to government-aligned...