Brazil miner Vale to sell stake in nickel producer to Indonesia’s Inalum

Industry:    2020-06-20

Brazil iron ore miner Vale SA said on Friday in a securities filing that its Canadian subsidiary had reached an agreement to sell a 20% stake in the nickel producer PT Vale Indonesia to state-controlled PT Indonesia Asahan (Inalum).

Vale’s Canadian subsidiary will receive $290 million for the sale, in which Sumitomo Metal Mining  is also participating.

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