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In 1994, the company completed the corporate spinoff of its entire interest in FreeportMcMoRan Copper Gold, which owned the Grasberg mine. In 1995, RTZ, a predecessor of Rio Tinto Group made a $450 million investment in the company.
About the Site The PT Freeport Indonesia copper and gold mining complex, consisting of an openpit mine and two underground mines, is located in the remote highlands of the Sudirman Mountain Range in the province of Papua, Indonesia, which is on the western half of the island of New Guinea.
About FreeportMcMoRan. FreeportMcMoRan operates large, longlived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is the worlds largest publicly traded copper producer.