INCO – IDR140 bn affiliate transaction execution

Vale Indonesia's (INCO) affiliated transaction with INCO's shareholder, Vale Canada Limited (VCL), in connection with the planned development of a nickel processing facility in Pomalaa, Kolaka Regency, Southeast Sulawesi. This transaction also involves 2 subsidiaries, Bahodopi Nickel Smelting Indonesia (BNSI) and Kolaka Nickel Indonesia (KNI). INCO purchased VCL and BNSI shares for a nominal value of IDR10 mn. KNI will be the implementing company for the nickel processing facility development project in Kolaka Regency, Southeast Sulawesi and BNSI will be the implementing company for the nickel facility development project in Morowali Regency, Central Sulawesi (Source : Investor Daily)