The Indonesian government has appointed state miner PT Inalum to purchase a stake that PT Vale Indonesia aims to divest, mining ministry’s Director General of Coal and Minerals Bambang Gatot Ariyono told reporters on Monday.
Ariyono declined to disclose the value estimate of the deal.
Vale is expected to reduce foreign ownership in the company to meet with Indonesia’s mining rules. The company had previously said it aims to conduct the divestment in October. (Reporting by Wilda Asmarini Writing by Fransiska Nangoy Editing by Shri Navaratnam)
