Vale Canada's shares in Vale Indonesia have been sold to the Japanese company Sumitomo Corporation and Mind ID, the Indonesian state mining company.

Vale Canada Limited, the Canadian subsidiary of the Brazilian Vale, completed today, Friday, the sale of its stake in its subsidiary in Indonesia, for which it received a total of US$155 million in cash.

Vale Canada's shares in Vale Indonesia have been sold to the Japanese company Sumitomo Corporation and Mind ID, the Indonesian state mining company.

In this way, as of this Friday, Mind ID owns approximately 34% of the issued shares of Vale Indonesia, while the Canadian company and Sumitomo own approximately 33.9% and 11.5%, respectively. The rest of the securities are listed on the Indonesia Stock Exchange.

In connection with the completion of this divestment, the Government of Indonesia has issued a special mining license, confirming Vale Indonesia's legal right to continue operating until December 2035, with the right to extend the license beyond this period. . The issuance of this license allows Vale to further unlock its growth potential through its investment in Indonesian projects.

The Canadian subsidiary maintains significant economic exposure to PTVI as a non-operated joint venture and will continue to provide strong governance through appointments to the Board of Commissioners. Additionally, VCL's existing purchasing rights are preserved.

"Vale remains committed to improving regional opportunities for the responsible production of nickel, an essential metal for the global energy transition," the company said.