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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

Published Tue, Sep 5, 2017 · 09:50 PM
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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 government officials in Jakarta last week, he said he planned to do just that.

"Freeport caves to govt demands" headlined The Jakarta Post while the Indonesian Energy and Mineral Resources M…

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