[Ferro-Alloys.com] 

Vale Indonesia granted mining permit extension to 2035

Indonesia has granted Vale’s (NYSE: VALE) local unit a special mining permit extension.

The permit extension until Dec. 28, 2035 ends months of uncertainty surrounding Vale’s operations in Indonesia. Among other conditions, it requires from Vale to finish ongoing construction at two nickel processing facilities.

Vale and its partners are investing nearly $10 billion in the development of nickel mines and processing facilities in Indonesia over the next decade. This includes the construction of two specialized plants that will produce materials essential for the batteries used in electric vehicles.

• [Editor:邢亚敏]