08
Oct
11:53
Vale concludes sale of Indonesian nickel stake
Brazil’s Vale says it has completed the sale of a 20% stake in Vale Indonesia to state-owned Mining Industry Indonesia (MIND ID), formerly known as Inalum. The nickel mining operation must increase Indonesian ownership to meet regulations, Kallanish notes.
According to the ministry controlling state-owned enterprises, MIND ID paid IDR 5.52 trillion ($376 million) for the stake. The move gives the company just under a 40% shareholding in the company after it …
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