Mineral Industri Indonesia completed the acquisition of a minority stake in PT Vale Indonesia from Vale Canada and Sumitomo Metal Mining for $160m.

Mineral Industri Indonesia, the state mining holding company, completed the acquisition of a minority stake in Vale Indonesia, a foreign investment company, from minerals company Vale Canada and Sumitomo Metal Mining for $160m. “This agreement signals the commitment made by Vale Base Metals to PT Vale, the Indonesian people and to our stakeholders to unlock value from our assets," Mark Cutifani, Vale Base Metals Chair.