Vale Canada, Sumitomo Metal ink initial deal for sale of stake in Indo nickel mining unit

Vale Canada, Sumitomo Metal ink initial deal for sale of stake in Indo nickel mining unit

FILE PHOTO: The logo of Sumitomo Metal Mining Co is pictured at the company's headquarters in Tokyo, Japan, September 13, 2018. REUTERS/Ritsuko Shimizu/File Photo

Mining company Vale Base Metals said its unit Vale Canada Ltd and Japan’s Sumitomo Metal Mining Co. Ltd signed an initial agreement on Friday to sell a 14% stake in their Indonesian nickel mining unit to Indonesia’s state miner.

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