Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Vale Canada and Sumitomo Metal Mining have sold a 20pc minority stake in the PT Vale nickel mine to PT Indonesia Asahan Aluminum.


Asahan Aluminum, a state-owned firm, will purchase the stake for about $290mn. When the deal is finalized at the end of this year, the state-owned company will own 20c of PT Vale—14.9pc from Vale and 5.1pc from Sumimoto. Vale will retain 44.3pc, while Sumitomo will have 15pc.


PT Vale finished Q1 2020 with $29mn in earnings and produced 17,614mt of nickel.

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