$INCO
Dear Analysts and Fund Managers,
Para Analis dan Fund Manager Yth.,
On October 11, 2019, PT Vale Indonesia Tbk (“PT Vale”, IDX Ticker: INCO) together with its shareholders, Vale Canada Limited ("VCL") and Sumitomo Metal Mining Co., Ltd. ("SMM") and PT Indonesia Asahan Aluminium (Persero) ("Inalum”) signed a Heads of Agreement (“Agreement”). This signing marks the beginning of a long term strategic partnership between PT Vale and Inalum in managing strategic mineral resources in the country.
Pada tanggal 11 Oktober 2019, PT Vale Indonesia Tbk ("PT Vale", Kode IDX: INCO) bersama dengan para pemegang sahamnya, Vale Canada Limited ("VCL") dan Sumitomo Metal Mining Co., Ltd. ("SMM") dan PT Indonesia Asahan Aluminium (Persero) ("Inalum") telah menandatangani Perjanjian Pendahuluan ("Perjanjian"). Penandatanganan perjanjian ini adalah langkah awal dimulainya kerja sama strategis jangka panjang antara PT Vale dan Inalum dalam mengelola sumber daya mineral strategis di negara ini.
Based on letter No. 1706/32/DJB/2019 dated October 8, 2019 issued by the Ministry of Energy and Mineral Resources of the Republic of Indonesia, the Government of the Republic of Indonesia appointed Inalum as its representative to acquire PT Vale's 20% divested shares, to fulfill PTVI’s divestment obligation.
Nico Kanter, President Director and Febriany Eddy, Vice President Director of PT Vale signed the Agreement while VCL was represented by its CEO, Mark James Travers and SMM was represented by Kaoru Hayashi, Deputy General Manager, Non-Ferrous Metals Division. Inalum was represented by its President Director, Budi Gunadi Sadikin. The parties are planning to sign key definitive agreements by the end of 2019 and to complete the transaction within six months after the execution of these definitive agreements.
Berdasarkan surat Kementerian Energi dan Sumber Daya Mineral Republik Indonesia No. 1706/32/DJB/2019 tanggal 8 Oktober 2019, Pemerintah Republik Indonesia telah menunjuk Inalum sebagai perwakilannya dalam mengambil alih 20% saham PT Vale untuk memenuhi kewajiban divestasinya.
Perjanjian ditandatangani oleh Nico Kanter selaku Presiden Direktur dan Febriany Eddy selaku Wakil Presiden Direktur PT Vale, sedangkan VCL diwakili oleh CEO, Mark James Travers dan SMM diwakili oleh Kaoru Hayashi, Deputy General Manager, Non-Ferrous Metals Division. Inalum diwakili oleh Budi Gunadi Sadikin selaku Presiden Direktur. Para Pihak berencana untuk menandatangani perjanjian-perjanjian definitif utama pada akhir tahun 2019 dan menyelesaikan keseluruhan transaksi dalam waktu 6 bulan setelah penandatanganan perjanjian-perjanjian definitif tersebut
The signing of this Agreement positions PT Vale well to contribute to the development of Indonesia and reinforces the Company’s long-standing commitment to value-added processing of nickel resources, sustainability and local empowerment in the country. PT Vale extends its appreciation to the Government of the Republic of Indonesia for its continuous support.
Penandatanganan Perjanjian ini menempatkan PT Vale pada posisi yang tepat untuk berkontribusi bagi pembangunan Indonesia dan memperkuat komitmen jangka panjang PT Vale terhadap pengolahan sumber daya nikel guna peningkatan nilai tambah, keberlanjutan dan pemberdayaan lokal di negara ini. PT Vale menyampaikan apresiasi kepada Pemerintah Indonesia atas dukungannya selama ini.
Further detail of the release is available in the attachment of this email.
Detil lebih lanjut dari rilis tersebut terdapat pada lampiran email ini.
Many thanks for your attention.
Terima kasih atas perhatiannya.
With kind regards,
Salam hormat,
Adi Susatio
Head of Treasury & IR