A Sign of Light at the Palace
After months of delay, Vale’s divestment process finally resumed following a meeting between the company’s CEO and President Joko Widodo. They offered a discount.
Retno Sulistyowati
October 29, 2019
The long awaited decision came two weeks after Vale SA CEO met President Joko Widodo at the State Palace in Jakarta. The energy and mineral resources ministry on October 8 appointed Indonesia Asahan Aluminium or Inalum to act for the government in the divestment process of Vale Indonesia (IDX: INCO) shares. In a letter issued on that date, the government instructed Inalum to take over 20 percent ownership in Vale Indonesia.
In the
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