Vale S A : on the closing of PT divestment transaction
October 08, 2020 at 02:25 am IST
Share
10/7/2020
Vale on the closing of PT Vale divestment transaction
Page Content
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, also known as Inalum)¹. 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
Attachments
Original document
Permalink
Disclaimer
Vale SA published this content on 07 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 October 2020 20:54:00 UTC
Vale S.A. is one of the world's leading metallurgy and mining groups. Revenues break down by family of products as follows:
- ferrous minerals and metals (80,2%): ferrous minerals (85.1% of revenues; 254 Mt sold in 2020), ferrous mineral granules (13.2%; 31.2 Mt), iron alloys and manganese (0.7%; 1.4 Mt), and other (1%);
- non-ferrous minerals and metals (17.9%): nickel, precious metals, and cobalt (69.7% of revenues; 211 Kt of nickel sold) and copper (30.3%; 247 Kt);
- coal (1.2%): metallurgical coal (2.9 Mt sold) and thermal coal (3 Mt);
- other (0.7%).
Revenues are distributed geographically as follows: Brazil (7.3%), the United States (2.6%), Americas (1.5%), China (57.8%), Japan (5.5%), Asia (8.2%), Europe (13.3%) and Middle East/Africa/Oceania (3.8%).