Indonesia¡¯s mining industry holding company, MIND ID, agreed on Monday to acquire a 14% stake in Vale Indonesia from Vale Canada and Japan¡¯s Sumitomo Metal Mining, to become the top shareholder at one of the country¡¯s largest nickel miners.

On February 26th, the APNI released INPI Index.

Nickel, which had steadily gained this week in anticipation of the sanctions news, pared an earlier advance of as much as 1.2% to trade just 0.3% higher.

Sohar Port and Freezone on Sunday signed a land lease agreement with Starsun Sohar (FZC) to establish a recycling plant dedicated to the sustainable management of lead-acid batteries in Sohar Freezone.

Gulf Alloys and Metals (FZC) LLC began a trial run of its 10,000 tpa capacity ferrochrome alloy plant.

Weekly Italian rebar and drawing-quality wire rod assessments softened by €5/t to €600/t ex-works and €660/t delivered.

India's private-sector steelmaker JSW Steel has announced a 13.2mn t/yr greenfield steel manufacturing complex in Paradip, Odisha.

Vale will receive its pro rata share of Minas Rio production with completion of the deal. It will also have an option to acquire an additional 15pc stake in the enlarged Minas Rio for cash.