Shareholders of nickel miner PT Vale Indonesia on Monday voted to reappoint Febriany Eddy as CEO, ahead of state miner MIND ID raising its stake in the group to become its majority shareholder, the company said. Vale and MIND ID said when the state mining group's planned acquisition of a 14% stake in Vale Indonesia from Vale Canada and Sumitomo Metal Mining was announced in February that they would agree board positions as the deal progressed. Eddy and a number of new appointees will sit as the new board of directors from the closure of MIND ID transactions - expected this month - until 2027, the company said.
Shareholders of nickel miner PT Vale Indonesia approved a rights issue that will facilitate the acquisition of a stake by Indonesia state mining holding company MIND ID, the company said in a statement late on Friday. Vale Canada and Japan's Sumitomo Metal Mining had agreed to sell 14% of the Indonesian unit to MIND ID to fulfil a divestment requirement to secure new mining permit. The statement said Vale Indonesia will issue 603 million new shares under a rights issuance.
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