June 19, 2020 / 1:42 PM / 25 days ago

Brazil miner Vale to sell stake in nickel producer to Indonesia's Inalum

SAO PAULO (Reuters) - Brazil iron ore miner Vale SA (VALE3.SA) said on Friday in a securities filing that its Canadian subsidiary had reached an agreement to sell a 20% stake in the nickel producer PT Vale Indonesia to state-controlled PT Indonesia Asahan (Inalum).

Vale’s Canadian subsidiary will receive $290 million for the sale, in which Sumitomo Metal Mining (5713.T) is also participating.

Reporting by Roberto Samora

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