KONTAN.CO.ID - JAKARTA. Vale will divest its 14% stake in its Indonesian nickel miner Vale Indonesia (INCO) to bring their holding below the maximum permitted for overseas firms, Indonesia's mining minister said on Friday. Shares divestment is a condition Indonesia requires to extend the operation permit for Vale Indonesia. Vale's current contract is due to end in 2025. Under Indonesian rules, foreign miners are required to divest 51% of their stake to local buyers after a certain period of operation.
Vale Will Divest 14% Stake in Vale Indonesia (INCO) - Minister
KONTAN.CO.ID - JAKARTA. Vale will divest its 14% stake in its Indonesian nickel miner Vale Indonesia (INCO) to bring their holding below the maximum permitted for overseas firms, Indonesia's mining minister said on Friday. Shares divestment is a condition Indonesia requires to extend the operation permit for Vale Indonesia. Vale's current contract is due to end in 2025. Under Indonesian rules, foreign miners are required to divest 51% of their stake to local buyers after a certain period of operation.