Vale shareholders tussle over control

Energy and Mineral Resources Minister Arifin Tasrif revealed that Vale Canada Ltd and state-owned PT Mineral Industri Indonesia (Mindid), as the two biggest shareholders in the company, are each seeking those rights. — Jakarta Post

JAKARTA: Shareholders of PT Vale Indonesia are reportedly tussling over who will have operation control of the publicly listed nickel mining company and get to consolidate it with their financial statements after an impending divestiture that is required to extend its operations in Indonesia.

Speaking in front of lawmakers on Tuesday, Energy and Mineral Resources Minister Arifin Tasrif revealed that Vale Canada Ltd and state-owned PT Mineral Industri Indonesia (Mindid), as the two biggest shareholders in the company, are each seeking those rights.