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JAKARTA — State-owned mining holding company Mineral Industri Indonesia will buy another 14% stake in the local unit of Brazilian mining giant Vale for approximately 4.24 trillion rupiah ($271.4 million), according to an agreement signed on Monday.
The Indonesian entity — better known as MIND ID — is buying the stake from Vale Canada (a subsidiary of Vale Base Metals, the holding company for Vale’s energy transition metals business) and Japan’s Sumitomo Metal Mining.