Mineral Industri Indonesia, the state mining holding company, agreed to acquire a 14% stake in Vale Indonesia, a foreign investment company, from minerals company Vale Base Metals and Sumitomo Metal Mining. Financial terms were not disclosed. "This Agreement reinforces our commitment to sustainably advance Indonesia’s nickel industry, building on our 55-year operating history in the country. As the benchmark supplier of responsibly produced low-carbon nickel and other metals vital to the energy transition, we look forward to working within the new shareholding structure with our partners to support the country’s downstreaming ambitions and deliver strong economic value to our stakeholders and communities over the long run," Deshnee Naidoo, Vale Base Metals CEO.