PT Indonesia Asahan Aluminium completed the acquisition of a 20% stake in PT Vale Indonesia for $278m.

PT Indonesia Asahan Aluminium, an aluminium smelting company, completed the acquisition of a 20% stake in PT Vale Indonesia, a nickel producer, from Vale Canada, Vale’s nickel mining and metals division, for $278m. The transaction satisfies PT Vale's divestment obligation under the contract of work with the government of Indonesia, which is one of the requirements PT Vale needs to fulfil in order to extend its operation beyond 2025.