Morningstar - Rio Tinto Limited (RIO) We View Freeportâ€™s Deal With Indonesian Government as Value-Neutral; We Maintain Our FVE

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Morningstar

Mathew Hodge

EUR 100.00 For Business Accounts Only

We View Freeportâ€™s Deal With Indonesian Government as Value-Neutral; We Maintain Our FVE

Freeport-McMoRan announced that it has reached an agreement with the Indonesian government regarding control over the Grasberg mine. Currently, the mine is owned by a joint venture called PT-FI in which Freeport owns a 90.36% stake. The balance is owned by the Indonesian state-owned enterprise Inalum. Under the new agreement, Freeport will sell 9.36% of its PT-FI stake to Inalum for $350 million.
PT-FI currently owns 100% of the Grasberg mine. However, an existing agreement will shift a 40% inte...

13/07/2018 14 EN

Underlying

Rio Tinto Limited

Rio Tinto is a mining group based in the United Kingdom and Australia. Co. is engaged in the business of finding, mining and processing mineral resources. Co.'s major products are iron ore, aluminium, copper, diamonds, coal, uranium, gold and industrial minerals (borax, titanium dioxide and salt). Co.'s activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and Africa. Co.'s operations comprise four principal product groups - Iron Ore, Aluminium, Copper and Diamonds, and Energy & Minerals.

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AU000000RIO1 Australian Securities Exchange Australia

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Mathew Hodge

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