Indonesia state miner signs initial agreement to buy 20% stake in Vale Indonesia

Industry:    2019-10-14

State mining holding company Mining Industry Indonesia, previously known as Inalum, said in a statement on Monday it had signed an initial agreement with shareholders of nickel miner PT Vale Indonesia to buy a 20% stake in the company.

According to Indonesian mining rules, foreign controlled miners are required to reduce their ownership to 49% or below within 10 years of starting operations.

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