Vale on the closing of PT Vale divestment transaction

10/7/2020

Vale on the closing of PT Vale divestment transaction

​​Rio de Janeiro, October 7th, 2020 – Vale S.A. (“Vale”) confirms that its subsidiary Vale Canada Limited ("VCL") has completed, together with Sumitomo Metal Mining Co., Ltd. ("SMM"), the sale and transfer of 20% shareholding in PT Vale Indonesia ("PT Vale") to PT Indonesia Asahan Aluminium (Persero)1 (“Inalum”). According to the terms disclosed on June 19th, 2020, VCL received IDR 4,126 billion, approximately US$ 278 million2 in cash. 

The transaction satisfies PT Vale’s divestment obligation under the Contract of Work with the Government of Indonesia, which is one of the requirements PT Vale needs to fulfil in order to extend its operation beyond 2025. 

Vale takes this opportunity to once more applaud the alliance with Inalum and SMM, reinforcing PT Vale’s longstanding commitment to prosperity, sustainability and local empowerment in Indonesia. 

1 Recently renamed MIND ID 
2 Considering IDR 14,867/USD

 

For further information, please contact:
+55-21-3814-4540

Rogério Nogueira: rogerio.nogueira@vale.com
André Figueiredo: andre.figueiredo@vale.com
Carla Albano Miller: carla.albano@vale.com
Fernando Mascarenhas: fernando.mascarenhas@vale.com
Andrea Gutman: andrea.gutman@vale.com
Bruno Siqueira: bruno.siqueira@vale.com
Claudia Rodrigues: claudia.rodrigues@vale.com
Marcio Loures Penna: marcio.penna@vale.com
Mariano Szachtman: mariano.szachtman@vale.com

This press release may include statements that present Vale’s expectations about future events or results. All statements, when based upon expectations about the future and not on historical facts, involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, especially Brazil and Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production, which is cyclical by nature; and (e) global competition in the markets in which Vale operates. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores Mobiliários (CVM), the French Autorité des Marchés Financiers (AMF), and The Stock Exchange of Hong Kong Limited, and in particular the factors discussed under “Forward-Looking Statements” and “Risk Factors” in Vale’s annual report on Form 20-F.

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Vale on the closing of PT Vale divestment transaction