Jakarta - PT Vale Indonesia Tbk (INCO) has acquired shares of Vale Canada Limited (VCL) in Bahodopi Nickel Smelting Indonesia (BNSI) and PT Kolaka Nickel Indonesia (KNI).

The deed of transfer of shares in the two companies was dated January 6, 2023, with Vale purchasing 10 BNSI shares worth Rp10 million and 130 KNI shares worth Rp130 million.

"Thus, the total transaction value is IDR 140 million," said Vale Main Director Febriany Eddy in an information disclosure Wednesday (1/11).

He said KNI shares were purchased because Vale plans to develop a nickel processing facility with partners in Pomalaa, Southeast Sulawesi. KNI will implement the project.

Meanwhile, the purchase transaction for VCL shares in BNSI is in connection with the planned development of a nickel processing facility in Morowali Regency, Central Sulawesi, which the company and its partners will undertake. BNSI will be the implementing company for the project.

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