INCO to Divest 14% Shares to MIND ID

It is good news for PT Mineral Industri Indonesia (MIND ID) as the mining state-owned enterprise (SOE) holding has successfully reached an agreement on the remaining 14% share divestment obligation in PT Vale Indonesia Tbk.

Stepanus I Nyoman A. Wahyudi

18 Nov 2023 - 17.17
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INCO to Divest 14% Shares to MIND ID

The concession held by INCO, based on the 2014 KK amendments, encompasses 118,435 hectares (ha), distributed across South Sulawesi (70,566 ha), Central Sulawesi (22,699 ha), and Southeast Sulawesi (24,752 ha). - Foto Inco

Bisnis, JAKARTA— It is good news for PT Mineral Industri Indonesia (MIND ID) as the mining state-owned enterprise (SOE) holding has successfully reached an agreement on the remaining 14% share divestment obligation in PT Vale Indonesia Tbk.

The agreement was formalized through the signing of heads of agreement (HoA) with the foreign shareholders of PT Vale Indonesia Tbk. (INCO).

The signing of the HoA took place during the 2023 Asia Pacific Economic Cooperation (APEC) forum in San Francisco, United States, according to Minister of Energy and Mineral Resources (EMR) Arifin Tasrif.

“The signing was a crucial step, as the delegation is scheduled to return on Saturday (18/11), and without the signing, the agreement would not have materialized,” he stated at the Ministry of EMR, Jakarta, Friday (17/11).

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INCO to Divest 14% Shares to MIND ID

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