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News Jun 22, 2020

MIND ID’s Acquisition of Minority Stake in PT Vale Indonesia

Shearman & Sterling advised Indonesia’s state-owned mining company PT Indonesia Asahan Aluminium (Persero), formally known as Inalum and recently rebranded as MIND ID, on the signing of a share purchase agreement to acquire a 20 percent stake in PT Vale Indonesia from Vale Canada and Sumitomo Metal Mining. This is a high-profile transaction in Indonesia and follows up from Inalum’s acquisition of the Freeport mine in 2018. 

PT Vale Indonesia is the largest nickel producer in Indonesia and one of the largest globally. The company is a subsidiary of Vale SA, a global leader in iron ore production and the world’s second biggest mining company, headquartered in Brazil.  

The Team