July 12 (Reuters) - Rio Tinto PLC RIO.L :
* HEADS OF AGREEMENT TO SELL INTEREST IN GRASBERG
* PROPOSED DEAL FOR $3.5 BILLION
* HEADS OF AGREEMENT TO SELL INTEREST IN GRASBERG
* AGREEMENT SETS OUT A PROPOSED TRANSACTION BETWEEN FCX AND INALUM FOR LATTER TO BUY AN ADDITIONAL STAKE IN GRASBERG
* PARTIES HAVE COMMITTED TO WORK TOWARDS AGREEING AND SIGNING BINDING AGREEMENTS BEFORE END OF SECOND HALF OF 2018
* AGREEMENT SETS OUT ADDITIONAL TERMS RELATING TO FUTURE OWNERSHIP AND OPERATION OF GRASBERG