Inalum to Acquire Vale’s Shares

By Editorial Team 03/10/2019
Mining Truck
Summary

PT Vale Indonesia Tbk’s share divestment will begin soon. In early October, the Ministry of State-Owned Enterprises (SOEs) instructed the state mining holding company, MIND ID or PT Inalum, to take 20 percent of the shares that Vale would release.

The SOEs Ministry's undersecretary for mining, strategic industries, and media affairs Fajar Harry Sampurno stated that SOEs Minister Rini Soemarno had asked the MIND ID management to take charge of the share divestment of Vale Indonesia, formerly known as PT International Nickel Indonesia (INCO). The Finance Ministry, along with the Energy and Mineral Resources Ministry, has approved it. The divestment process must be completed by October 2019, following the amendment to the 2014 work contract. 

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