Vale Have Resolved to Sell out 20 per cent of their Nickel Assets in Indonesia

  • Tuesday, October 21, 2014
  • Source:ferro-alloys.com

  • Keywords:Vale, Indonesia, nickel
[Fellow]The Brazilian miner has signed a divestment contract with the outgoing Indonesian government, to sell the stake to Indonesian parties within five years....
The Brazilian miner has signed a divestment contract with the outgoing Indonesian government, to sell the stake to Indonesian parties within five years.
 
Under a new agreement with the government, Vale will reduce its mining-area size to 190,510 hectares from the previous 118,435.
 
The company has also agreed to pay more than double existing royalties to the government, from 0.9 per cent to 2 per cent.
 
The royalty will be upped to 3 percent with a nickel-price increase.
 
Vale Indonesia president director Nico Kanter said: “Vale believes that with this amendment, the company is well positioned to contribute to the development of Indonesia and continue to create shareholder value.”

 

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  • [Editor:sunzhichao]

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