Challenging Talks to Sell Vale (INCO) Stock

Despite some contesting points having been unravelled, negotiations between MIND ID and INCO's shareholders still face a winding road. The remaining divestment is now awaiting the final decision from the SOE Ministry.

Stepanus I Nyoman A. Wahyudi & Denis Riantiza Meilanova

31 Okt 2023 - 20.55
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Challenging Talks to Sell Vale (INCO) Stock

Illustration - PT Vale Indonesia Tbk. (INCO) employees./Bisnis.

Bisnis, JAKARTA — The issue of divestment by PT Vale Indonesia Tbk. (INCO) remains unresolved as the Brazil-based company’s work contract is set to end in December 2025. Despite some contesting points having been unraveled, negotiations between PT Mineral Industri Indonesia (Persero) or MIND ID and INCO's shareholders still face a winding road. The remaining divestment is now awaiting the final decision from the Ministry of State-Owned Enterprises (SOEs).

The question of who will control INCO after the divestment remains the main subject of discussion between the state-owned holding company MIND ID and INCO's shareholders, namely Vale Canada Limited and Sumitomo Metal Mining Co. Ltd.

As revealed by SOE Minister Erick Thohir, after INCO’s development plan was approved by the Minister of Energy and Mineral Resources (EMR) Arifin Tasrif in April 2023, recent negotiations have been predominantly carried out by MIND ID with INCO.

“We're in continuous discussions; it's quite arduous,” said Minister Erick at the Ministry of EMR, Jakarta, on Monday (10/30/2023).

Cek Berita dan Artikel yang lain di Google News dan WA Channel
Editor: Yusuf Waluyo Jati
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Challenging Talks to Sell Vale (INCO) Stock

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