Inalum - Holding state-owned Mining, PT Indonesia Asahan Aluminum (Inalum) or Minning Industry in Indonesia (MIND ID) signed a preliminary agreement to take over 20% share divestment of PT Vale Indonesia Tbk (INCO) bersaama its shareholders, Vale Canada Limited (VCL) and Sumitomo Metal Mining Co.Ltd. (QMS).
Inalum's president director, Budi Gunadi Sadikin explained the signing of the agreement held on 11 November this is the first step of strategic cooperation between the Company and Vale Indonesia.
This introduction will be followed by some agreement devinitif main.
"Participation in the Company in world class mining company, like Vale Indonesia (Brazil) and Freeport Indonesia (American) is a testament to Indonesia's success in maintaining and attracting investment global companies to the mining industry nationwide," Budi said in an official statement obtained Katadata.co.id on Monday (14/10).
"In the future, this access will be strategically secure the supply of raw materials for downstream industries nickel-based alloys, both stainless steel up to battery electric vehicles," he said.
(Read: The Government Appoints The Company To Take Over Stock Divestment Vale)
