Freeport-McMoRan and Rio Tinto have completed the sale of their interest in PT Freeport Indonesia to PT Indonesia Asahan Aluminium (Inalum) for $3.85bn. Rio Tinto received $3.5bn, and Freeport-McMoRan received $350m in cash. "Both Freeport-McMoRan and the Government of Indonesia take pride in what we have accomplished together at the Grasberg operation in Papua, which has been developed into one of the world’s largest copper and gold mining assets. We look forward to a future of enhanced long-term stability for PT-FI’s operations, the continued application of best practices for environmental management and to providing greater benefits to the people of Papua, to the Republic of Indonesia and to local employees, suppliers and contractors while generating attractive returns for our shareholders." Richard C. Adkerson, Freeport-McMoRan Vice Chairman of the Board, President and CEO.