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MIND ID to acquire 14% stake in Vale Indonesia

• Tuesday, February 27, 2024
• Source:ferro-alloys.com

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• Keywords:nickel, ore, steel

[Ferro-Alloys.com] 

 

MIND ID to acquire 14% stake in Vale Indonesia

 

Indonesia’s mining industry holding company, MIND ID, agreed on Monday to acquire a 14% stake in Vale Indonesia from Vale Canada and Japan’s Sumitomo Metal Mining, to become the top shareholder at one of the country’s largest nickel miners.

 

Upon completion, MIND ID will be the largest shareholder in Vale Indonesia, with its stake rising to 34% from 20%. Vale Canada will hold 33.9% and Sumitomo 11.5% respectively.

 

The divestment is a key condition for the extension of Vale Indonesia’s mining permit beyond 2025.

 

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• [Editor:邢亞敏]