Indonesia has issued a new mining permit for nickel miner PT Vale Indonesia, its investment minister said on Monday.
Shareholders of Vale Indonesia this month approved a rights issue that will facilitate the acquisition of a stake by Indonesian state mining holding company MIND ID.
The stake divestment by Vale Indonesia’s foreign partners was a condition required by the country to issue a new permit for its operation beyond 2025.
Minister Bahlil Lahadalia did not specify how long the new permit would be valid for.
Vale Indonesia declined to comment on the new permit.
(By Bernadette Christina Munthe and Fransiska Nangoy; Editing by Martin Petty)
