Vale Indonesia Ready to Divest Shares

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1/7/2019

Vale Indonesia Ready to Divest Shares

PT Vale Indonesia said that they are ready to divest shares in compliance with the company’s agreement of contract of works amendment and applicable rules and regulations. (...)

PT Vale Indonesia said that they are ready to divest shares in compliance with the company’s agreement of contract of works amendment and applicable rules and regulations. “We’re ready, but there are stages to go through and Vale has already delivered a letter to the Energy and Mineral Resources Minister on the process for divesting Vale’s shares”, PT Vale Indonesia Communication Senior Manager, Suparam Bayu Aji, said in East Java on Saturday (5/1).

Earlier, Ahmad M. Ali, a member of Commission VII of the House of Representatives highlighted a renegotiation for PT Vale Indonesia’s share divestment to the government. According to Ali, Vale has not yet offered 20 percent of its shares to the government, and the progress of the smelter developments in Bahodopi and Pomalaa has been sluggish.

Source: Antaranews.com, 7 January 2019

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Vale Indonesia Ready to Divest Shares