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Indonesian state miner completes 20 percent stake buy in Vale unit for $375m

first_imgIndonesia’s state miner Mining Industry Indonesia (MIND ID), formerly known as PT Inalum, completed its purchase of a 20 percent stake in nickel miner PT Vale Indonesia, the country’s state- owned enterprises ministry said on Thursday.MIND ID bought the 20 percent stake at Rp 2,780 per share, totaling to Rp 5.52 trillion (US$375.77 million), the ministry said in a statement.Brazil’s Vale Group controls 44.34 percent of PT Vale Indonesia, while Japan’s Sumimoto Metal Mining Co. Ltd holds 15.93 percent of shares, the ministry said. MIND ID bought 14.9 percent stake from Vale Canada Ltd, the Canadian subsidiary of Vale Group, and 5.1 percent from Sumimoto, according to the statement.“With this transaction, we add more state ownership in the mining sector,” State-Owned Enterprises Minister Erick Thohir said.“This is also a great step to strengthen the value chain in Indonesian and the development of the battery industry for electric cars.”The Indonesian government is keen to build a holistic onshore electric vehicle (EV) industry, covering everything from the production of nickel chemicals needed for batteries, through to producing those batteries and eventually building vehicles domestically.Mining Industry Indonesia changed its name from PT Inalum in August to distinguish its holding company function from its smelting operational business.Topics :last_img read more

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Ghana booted out of CHAN tournament

first_imgA listless locally-based Ghana Black Stars made an ignoble group stage exit from the ongoing African Nations Championship in Sudan after losing their second game 1:0 to Zimbabwe in Wad Madany, Sudan.The Stars have a final Group B date against Niger on Sunday, February 13, but the result will not count much for the pre-tournament favourites who now have only a slim mathematical chance to qualify from the group stage as an earlier opening group loss to South Africa’s Bafana Bafana adds up to the Zimbabwean shocker to almost shut out the Black Stars.On a night so much was expected of Coach Herbert Addo and his boys who had vowed to put the South African loss behind them and to run down Zimbabwe, it took a 70th minute header by Zimbabwean striker Archieford Gutu to beat goalkeeper Sammy Adjei and therefore put paid to the dreams of the Ghanaians.The Black Stars were finalists in the previous tournament, and had vowed only the championship diadem would be good enough this time round, however they would be the first to admit that the Warriors of Zimbabwe were more ambitious and indeed deserved their win.South Africa had early on beaten Niger by 2:0 and the result leaves South Africa with six points, followed by Niger and Zimbabwe with three points apiece and Ghana at the bottom with no point.Moments after the game, tongues were openly critical of Herbert Addo’s game plan, while many more saw the Black Stars’ exit as justification why he was not handed the coaching job for the senior national team. Story by Isaac Yeboah/Myjoyonline.com/Ghanalast_img read more

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What does it mean to win an England Golf Award?

first_img Tags: Drax Golf Club, England Golf Awards, Liam Ridgill, Young Ambassador of the Year What does it mean to win an England Golf Award? What difference does it make? As we search for our 2019 winners, we set those questions for Liam Ridgill, our 2018 Young Ambassador of the Year.Liam is the captain of Drax Golf Club in Yorkshire, taking on the role at the age of just 23! He is the youngest captain in the club’s history and the only person to have been both junior and club captain.Winning the award has had a great influence on his year. He explains:“The award came a catalyst for success, not only personally but for the club and more importantly in my eyes, the game as a whole. I have always aimed to help modernise the game and attract younger players to all golf clubs. After all, it is a fantastic social sport that has served me well since picking up my first 7-iron at the age of eight.“I’m happy to say that through further initiatives from members’ benefit schemes and other developments at the club, we have seen 34 new members this year – with the majority never been members of golf clubs before!“While it has been fantastic welcoming new players to the game, I have tried to focus on keeping people playing and involved in the sport. In the busy 21st century, some of us unfortunately don’t find the time to play golf, mixing it with work and family time. This is why in March 2018 we at Drax introduced “Sticks at 6”.“It was a new 9-hole social gathering which was run by myself every Wednesday from March to mid-September to encourage people to pick up their clubs for 9 holes at 6pm.“This was also a great way to integrate new members with longer serving members of the club. Two of the new members, off the back of our first Sticks at 6, managed to reach the semi-finals of our doubles knockout competition.“From the success of this year, I encourage all clubs in England to host their own Sticks at 6 and keep their members engaged with the club.“As you can imagine, being a club captain at such a young age has been a happy challenge. However it has now put me in good stead, along with the award, to start looking at the future of golf in terms of junior players.“When I first joined Drax as a 12 year old, we had 40+ juniors. Sadly, over the years the number has unfortunately dwindled. My focus for 2019 and the following years will be around encouraging and supporting the younger generation of players and trying to encourage those of school/university age to take up the sport we all know and love.“I’m hoping to draw on the award to show people of a young age that golf is a game for everyone. I believe that England Golf has fantastic values that can be relayed to a wide audience using all forms of social media. Drax members have come to embrace platforms such as Facebook and Twitter and it is now an invaluable part of our marketing strategy.”Know someone equally deserving for 2019? Nominate now for one of these categories:Most Welcoming Club of the Year, sponsored by HowDidiDoLifetime Service AwardVolunteer of the YearYoung Ambassador of the Year, in association with The Golf FoundationCoach of the Year, sponsored by The PGACounty of the YearInnovation Award, sponsored by Players 1stTo find out more click here. Nominations close at midnight on Friday 30 November 2018.Caption: Liam Ridgill (right) is pictured with TV presenter Dan Walker (left) and Brendon Pyle, Chief Executive of the Golf Foundation. 13 Nov 2018 What does it mean to win an England Golf Award? last_img read more

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