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26 Feb

Indonesian firms increase ownership of PT Vale

Vale Canada Limited (CVL) and Sumitomo Metal Mining (SMM) will divest around 14% pro-rata combined stake in PT Vale Indonesia to PT Mineral Industri Indonesia (MIND ID), Kallanish reports. In a statement on Monday, Vale Base Metals says the companies have finalised a definitive agreement regarding the divestment obligation of its Indonesian subsidiary. MIND ID – Indonesia’s mining industry holding company – will own around 34% of PT Vale’s…
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