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Inalum to Acquire 20% of PT Vale

Mining News - Published on Tue, 23 Jun 2020

Image Source: Inalum Vale
Vale said that its subsidiary Vale Canada and Sumitomo Metal Mining had signed definitive agreements to sell 14.9% and 5.1% respectively in PT Vale Indonesia to Inalum. VCL would receive about USD 290 million in cash for its stake. Vale and SMM would then have a stake of 44.3% and 15% in PT Vale, totalling a 59.3% participation. The transaction, expected to close by the end of this year, is in line with Indonesia's moves to gain greater control of local mining operations.

PT Vale produced 17,614 tonnes of nickel in matte in the March quarter, 35% higher than a year earlier but 14% less than in the December quarter due to planned maintenance activities.

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Posted By : Yogender Pancholi on Tue, 23 Jun 2020
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