JAKARTA – Rio Tinto is not expected until 2022 to relinquish its interest in the giant Grasberg copper mine in Indonesia operated by the local unit of Freeport McMoRan, a government official said on Friday.
"In 2022 it will automatically convert to a shareholding," the official said, referring to Rio's 40% participating interest in Grasberg under a joint venture with PT Freeport Indonesia.