Vale S A : 10/07/2020 Vale on the closing of PT Vale divestment transaction
October 07, 2020 at 08:25 am EDT
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10/7/2020
Vale on the closing of PT Vale divestment transaction
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Rio de Janeiro, October 7th, 2020 - Vale S.A. ('Vale') confirms that its subsidiary Vale Canada Limited ('VCL') has completed, together with Sumitomo Metal Mining Co., Ltd. ('SMM'), the sale and transfer of 20% shareholding in PT Vale Indonesia ('PT Vale') to PT Indonesia Asahan Aluminium (Persero)1 ('Inalum'). According to the terms disclosed on June 19th, 2020, VCL received IDR 4,126 billion, approximately US$ 278 million2 in cash.
The transaction satisfies PT Vale's divestment obligation under the Contract of Work with the Government of Indonesia, which is one of the requirements PT Vale needs to fulfil in order to extend its operation beyond 2025.
Vale takes this opportunity to once more applaud the alliance with Inalum and SMM, reinforcing PT Vale's longstanding commitment to prosperity, sustainability and local empowerment in Indonesia.
1Recently renamed MIND ID
2Considering IDR 14,867/USD
Ever since the Covid-19 outbreak began, our highest priority is the health and safety of our employees. Our IR team adopted work-from-home, and as we continue to face these new circumstances, we strongly recommend you prioritize e-mail and online engagement.
For further information, please contact:
Vale.RI@vale.com
Ivan Fadel: ivan.fadel@vale.com
Andre Werner: andre.werner@vale.com
Mariana Rocha: mariana.rocha@vale.com
Samir Bassil: samir.bassil@vale.com
This press release may include statements that present Vale's expectations about future events or results. All statements, when based upon expectations about the future, involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, especially Brazil and Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production, which is cyclical by nature; and (e) global competition in the markets in which Vale operates. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores Mobiliários (CVM) and in particular the factors discussed under 'Forward-Looking Statements' and 'Risk Factors' in Vale's annual report on Form 20-F.
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Vale SA published this content on 07 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 October 2020 12:24:01 UTC
Vale S.A. is one of the world's leading metallurgy and mining groups. Revenues break down by family of products as follows:
- ferrous minerals and metals (80,2%): ferrous minerals (85.1% of revenues; 254 Mt sold in 2020), ferrous mineral granules (13.2%; 31.2 Mt), iron alloys and manganese (0.7%; 1.4 Mt), and other (1%);
- non-ferrous minerals and metals (17.9%): nickel, precious metals, and cobalt (69.7% of revenues; 211 Kt of nickel sold) and copper (30.3%; 247 Kt);
- coal (1.2%): metallurgical coal (2.9 Mt sold) and thermal coal (3 Mt);
- other (0.7%).
Revenues are distributed geographically as follows: Brazil (7.3%), the United States (2.6%), Americas (1.5%), China (57.8%), Japan (5.5%), Asia (8.2%), Europe (13.3%) and Middle East/Africa/Oceania (3.8%).
VALE S.A. 