26.8 C
Belgrade
Supported byspot_img
spot_img

Vale Canada is selling a stake in its Indonesian nickel mining unit to Indonesia’s state-owned mining company

Member of Europium Groupspot_img
Supported byspot_img

Vale Canada and Sumitomo Metal Miningboth agreed to sell a 14 per cent stake in Vale Indonesia (PT Vale) to PT Mineral IndustriIndonesia. The state-owned miner will hold about 34 per cent of the issued shares, up from 20 per cent, while Vale Canada will hold about 33.9 per cent, down from 43.79 per cent, and Sumitomo about 11.5 per cent, down from 15.03 per cent, to meet the minimum domestic ownership laws in the country that restrict foreign ownership of mines. As a result, PT Vale’s mining business licence has the potential to be extended beyond 2025 in the region.

Supported byElevatePR Digital

Related News

Indonesia’s path: Economic growth, mineral wealth and sustainable development challenges

Indonesia finds itself at a pivotal juncture, balancing significant economic growth driven by mineral exports—particularly nickel and coal—with the urgent need to address environmental...

DRC’s cobalt mining: Balancing price volatility, artisanal miners and sustainability goals

The Democratic Republic of Congo (DRC), the world's largest cobalt producer, faces challenges as falling prices impact local miners. Emmanuel Umpula Nkumba, from Katanga,...

Canada includes high-purity iron in critical minerals list, bolstering Nunavut’s mining industry

Advocates for Nunavut's mining industry, including Baffinland Iron Mines Corp., have welcomed Canada's decision to include high-purity iron on its list of critical minerals....

Unlocking Sub-Saharan Africa’s critical mineral wealth for the clean energy future

As the world transitions to cleaner energy solutions, the demand for critical minerals such as cobalt, nickel and lithium is projected to surge dramatically....
Supported by
Supported by
Supported by
error: Content is protected !!