Mining giants losing their grip on International market as local governments push back

Outnumbered and outflanked, Freeport-McMoRan Inc. chief executive officer Richard Adkerson made an about-face. Only months earlier, Mr. Adkerson had dismissed the concept of selling a majority stake in the Phoenix-based firm’s flagship Indonesian copper-and-gold mine to local investors. However, seated beside government officials in Jakarta last week, the

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