Jakarta –
Controlling shareholder of PT Vale Indonesia Tbk agreed to release or divest 14% of its shares. The shareholders who will carry out the divestment are Vale Canada Ltd and Sumitomo Metal Mining.
Energy and Mineral Resources Minister Arifin Tasrif said the decision had been made. This share divestment itself is a condition for extending its operations in Indonesia.
“Yes, it has been decided,” he said at the Ministry of Energy and Mineral Resources, Jakarta, Friday (10/11/2023).
He said, with the divestment, MIND ID’s ownership of Vale shares would become 34%. According to Arifin, MIND ID will become the largest shareholder.
“So what Vale released was another 14%, group yes, with that MIND could get 34% and that’s the majority among the others,” he said.
Previously, the Minister of Investment/Head of BKPM Bahlil Lahadalia said that the divestment process of PT Vale Indonesia Tbk shares was almost complete. He said there was nothing difficult in the process, and the process was regulated by the Ministry of BUMN and the MIND ID mining holding.
“No, it’s not a big deal (divestment) is almost complete. The divestment is regulated by the Ministry of BUMN and MIND ID,” he said when met in Jakarta, Wednesday (8/11).
According to Bahlil, the amount of shares to be divested is still around 14%. He said there had been no additional divestment of shares above 14%.
“Add 14%, if I’m not mistaken, not yet (no addition yet),” he said.
(acd/that)
2023-11-10 06:09:42
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