#Vale will sell 14% stake in Vale #Indonesia – minister
JAKARTA, Nov 10 (Reuters) – Mining company Vale will sell a 14% stake in its Indonesian nickel miner Vale Indonesia to bring the holding by overseas firms below the maximum limit, Indonesia’s mining minister said on Friday.
Share 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 investors are required to divest 51% of their stake to local buyers after a certain period of operation.
Read more at: https://www.reuters.com/markets/commodities/vale-will-divest-14-stake-vale-indonesia-minister-2023-11-10/
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