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20231119_INCO_Laporan Informasi dan Fakta Material_31530460_lamp2.pdf
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PT Vale Indonesia Tbk Marks Historic Milestone with
Divestment Head of Agreement Signing
San Francisco, United States of America, November 17th, 2023 – PT Vale Indonesia Tbk (“PT
Vale” or the “Company”, IDX Ticker: INCO), in conjunction with its shareholders, including Vale
Canada Limited (VCL), PT Mineral Industri Indonesia (Persero) (MIND ID), and Sumitomo Metal
Mining Co., Ltd (SMM), has achieved a momentous feat with the signing of a Heads of Agreement
(Agreement), representing a critical stride towards fulfilling the Company's divestment obligations
under Indonesian mining law. The signing was witnessed by His Excellency, Ir. H. Joko Widodo,
President of the Republic of Indonesia, Mr. Airlangga Hartarto, Coordinating Minister for Economic
Affairs, Mr. Kartika Wirjoatmojo, Vice Minister of State-Owned Enterprises, and several other high-
ranking government officials, underscoring the significance of this milestone.
Under the Agreement, VCL and SMM will divest their equity interest in PT Vale approximately 14%
to MIND ID, upon which MIND ID will be the largest shareholder of the Company. Detailed
transaction mechanism is to be finalized in the form of definitive agreements and the transaction is
expected to be completed in 2024 and is subject to customary closing conditions.
The Agreement reflects the governance that promote cooperation and utilizes the combined
strength of the three shareholders to support the Company's pursuit of its growth plan, which aligns
with Indonesian’s ambition for mineral downstreaming backed with sustainable mining practices.
Febriany Eddy, CEO of PT Vale, said "with the signing of this Agreement, PT VaIe is advancing
steadfastly towards meeting its divestment obligations, which is a pre-requisite to obtain extension
of our mining license in the form of Special Mining Business License (IUPK). She further highlighted,
"The issuance of the IUPK will give certainty to our business, particularly our major investment
agenda."
The signing of this momentous Agreement underscores the Company’s commitment to regulatory
compliance and sustainable business practices, thereby solidifying its pivotal role within the
Indonesian mining sector.
For further information, please contact:
Bernardus Irmanto, Chief Financial Officer
ptvi.investorrelation@vale.com
Bayu Aji, Head of Communications
Bayu.Aji@vale.com
or visit our website at
www.vale.com/indonesia
PT Vale Indonesia Tbk
Jakarta: Sequis Tower, 20th Floor, Unit 6 & 7, Jl. Jend. Sudirman Kav. 71, Jakarta 12190, Indonesia. T (62) 21 524 9000 F.(62) 21 524 9020
Makassar: Jl. Somba Opu No. 281, Makassar 90113, Indonesia. T.(62) 411 366 9000 F.(62) 411 366 9020
Sorowako: Main Office Plant Site Sorowako, Luwu Timur 92984, Indonesia. T.(62) 475 332 9100 F.(62) 475 332 9575
www.vale.com/indonesia
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