JAKARTA - PT Indonesia Asahan Aluminium (Persero), the owner of PT Vale Indonesia Tbk (INCO), transferred its portion to PT Mineral Industri Indonesia (MIND ID) last week (6/4).

In the information disclosure quoted Monday (10/4), Filia Alanda, Corporate Secretary of INCO, confirmed that the transferred shares amounted to 1.98 billion units, setting the price to IDR 6,404 per share. After this corporate action, Inalum’s portion is down to nil from the prior 20%.

Once calculated, the transaction value reached IDR 12.76 trillion. The transfer was carried out in compliance with the Government Regulation No.46/2022 concerning the Domestic Investment for the Establishment of a Holding Company in the Mining Industry. MIND ID is known as the strategic, state-owned, holding company in the mining field.

Until February 2023, INCO’s shares were totalled to 9.93 billion shares, consisting of Inalum of 20%, Vale Canada Limited of 43.79%, Sumitomo Metal Mining of 15.03%, and the public 21.18%. (LK/ZH)