PT Vale Indonesia Tbk is ready to divest its 11% stake, as a condition to extend the Contract of Work (CoW) to Special Mining Business License (IUPK). The company's Contract of Work will expire on December 27th, 2025. According to the regulations on mineral and coal mining, the company needs to transfer its 51% share to the Indonesian government for a contract extension.
Vale Indonesia has disposed of 40% of its shares so far, of which 20% has been given to Mining Industry Indonesia (MIND ID), Indonesia's state-owned mining holding company, and 20% is processed on the stock exchange.
MIND ID is now preparing to acquire the remaining 11% share in Vale Indonesia.
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