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JAKARTA (Reuters) -Vale Base Metals said its Vale Canada unit and Japan's Sumitomo Metal Mining signed an initial agreement on Friday to sell a 14% stake in their Indonesian nickel mining unit to Indonesia's state miner. Vale Canada and Sumitomo signed the so-called heads of agreement to sell the shares to PT Mineral Industri Indonesia (MIND ID), the country's state mining holding company, Vale Base Metals said in a statement. Share divestment is a condition required by Indonesia to extend Vale Indonesia's mining permit, which will otherwise end in 2025.

JAKARTA (Reuters) -Vale Base Metals said its Vale Canada unit and Japan's Sumitomo Metal Mining signed an initial agreement on Friday to sell a 14% stake in their Indonesian nickel mining unit to Indonesia's state miner. Vale Canada and Sumitomo signed the so-called heads of agreement to sell the shares to PT Mineral Industri Indonesia (MIND ID), the country's state mining holding company, Vale Base Metals said in a statement. Share divestment is a condition required by Indonesia to extend Vale Indonesia's mining permit, which will otherwise end in 2025.

Broken Hill silver, lead and zinc mine set to close

Vale to divest 14% stake in Vale Indonesia, Reuters reported citing Indonesian Minister for Energy & Mineral Resources Arifin Tasrif.

JAKARTA :Mining company Vale will sell a 14 per cent stake in its Indonesian nickel miner Vale Indonesia to bring the holding by overseas firms below the maximum limit, Indonesia's mining minister said on Friday.Share divestment is a condition Indonesia requires to extend the operation permit for Vale Indone