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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

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


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...