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MNCs losing grip on world's richest mines

Local governments and unions push back against Western dominance of the world's natural resources

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Mr Adkerson (above) must now negotiate the terms of Grasberg's divestment with the Indonesian government.

Toronto

OUTNUMBERED and outflanked, Freeport-McMoRan Inc CEO Richard Adkerson made an about-face.

Only months before, he had dismissed the idea of selling a majority stake in the Phoenix-based company's flagship Indonesian copper-and-gold mine to local investors. But, seated beside...

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