Indonesia Issues New Mining Permit for Vale Indonesia (INCO)

ISSUER NEWS - JAKARTA. Indonesia has issued a new mining permit for nickel miner PT Vale Indonesia (INCO), 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.

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Minister Bahlil Lahadalia did not specify how long the new permit would be valid for.

Vale Indonesia declined to comment on the new permit.