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Vale to sell stake in nickel producer to Indonesia's Inalum

22nd June 2020

By: Reuters

  

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SAO PAULO – Brazil iron-ore miner Vale said on Friday in a securities filing that its Canadian subsidiary had reached an agreement to sell a 20% stake in the nickel producer PT Vale Indonesia to state-controlled PT Indonesia Asahan (Inalum).

Vale's Canadian subsidiary will receive $290-million for the sale, in which Sumitomo Metal Mining is also participating.

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Edited by Reuters

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