Mining Industry Indonesia (MIND ID) has signed a heads of agreement with Vale Canada Limited (VCL) and Sumitomo Metal Mining (SMM) that will see MIND ID become the largest shareholder of PT Vale Indonesia (PT Vale), Kallanish notes.
According to a public announcement sent by PT Vale on 18 November, VCL and SMM agreed to divest their equity interest in PT Vale of approximately 14% to MIND ID. This will make MIND ID the largest shareholder of PT Vale with a 34% stak…
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