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    com.liferay.portal.kernel.util.DateUtil_IW@36bce660
    Photo: Vale / Image Bank
    com.liferay.portal.kernel.util.DateUtil_IW@36bce660
    Photo: Vale / Image Bank

    Fifty years of PT Vale contributing to Indonesia and the world

    PT Vale has a proud history in Indonesia. It all begins with exploration in the eastern part of Sulawesi in the 1920s. Exploration activities, research, and development, continued in the period of independence and under the leadership of President Sukarno.
    PT Vale (which then was called PT International Nickel Indonesia) was established in July 1968. Later that year PT Vale and the Indonesian government signed the Contract of Work (CoW), as licensed by the Government of Indonesia for the exploration, mining and processing of nickel ore.
    Moving forward, PT Vale recently started the construction of the smelter in Sorowako, East Luwu District, South Sulawesi.
    Through the Amendment and Extension Agreement signed in January 1996, the CoW has been amended and extended with period of validity until December 28, 2025.
    In October 2014, PT Vale and the Indonesian Government reached an agreement after renegotiation the CoW, altering some provisions including the designation of the CoW area to 118,435 hectares.
    This means the CoW area has been reduced to 1.8% of the initial area provided by the Indonesian Government at the time of CoW signing in 1968 covering 6.6 million hectares in the east and southeast Sulawesi due to series of releases of CoW area.

    Beni Wahju (far right) stands on the brink of Larona River with Inco Ltd exploration team in 1966. The laterite ores expedition, conducted by Beni Wahju, Hitler Singawinata and the exploration team, was touted as the pioneer step of PT Vale (formerly Inco). The expedition also ensured that 15% of the world's nickel reserves lies in Indonesia.

    Milestone

    1968

    Establishment of PT Inco and the signing of a CoW between PT Inco and the Government of Indonesia for a thirty-year concession starting from the commencement of commercial production.

    1970

    The first bulk sample of Sulawesi’s ore totaling 50 tons is delivered to Inco’s research facilities in Port Colborne, Ontario. A new reduction smelting plant demonstrates that the Sorowako material can be successfully processed.

    1973

    Construction of a single pyrometallurgical processing line in Sorowako.

    1977

    Inauguration of mining facilities and nickel processing plant by President Soeharto.

    1978

    PT Inco initiates starts commercial production.

    1979

    PLTA Larona started its operation (165 MW)

    1990

    First corporate divestment by releasing 20% of the shares to the public, which are listed on the Indonesian stock exchange.

    1995

    Construction of Balambano, PT Vale’s second hydropower plant

    1996

    The CoW is modified to encompass another 30-year period, to 2025.

    1999

    PLTA Balambano started its operation (110 MW)

    2005

    The Bag House System is successfully installed in Electric Furnace #3 to reduce dust emission from the electric furnaces.

    2006

    Operational debut of the modern nursery located in the Sorowako Block. This nursery is capable of producing 700,000 seedlings of plants per years (including the endemic and native ones) to support the post-mining land rehabilitation program.

    2007

    Construction of Karebbe, PT Vale’s third hydropower plant.
    Esp (electrostatic precipitator) facilities are used to control articulate emissions in processing plants.

    2011

    PLTA Karebbe (90 MW) started its operation, adding up the total installed production capacity of electricity to 365 megawatts.
    GMS held on September 27, 2011 approved the change of Company name from PT International Nickel Indonesia Tbk to PT Vale Indonesia Tbk

    2012

    The Company officially change its name to PT Vale Indonesia Tbk and declared to employees.

    2013

    PT Vale implements the first phase of the Coal Conversion Project, replacing HSFO with pulverized coal to be inserted in the dryer. Besides being more cost-efficient, coal is also a locally sourced resource that further enhances the contribution of PT Vale to the Indonesian economy.

    2014

    On October 17, 2014, a CoW amendment was carried out as a result of a renegotiation between the Company and the Government of Indonesia. The Company and the Government of Indonesia sign an amendment to the CoW as mandated by Law No. 4 of 2009 Concerning Mineral and Coal Mining.

    2015

    PT Vale records the highest ever production of 81,117 tonnes of nickel in matte per annum.
    PT Vale introduced Healthy Environmentally Friendly Sustainable Agriculture Program (HEFSAP) including Cultivating an Organic System of Rice Intensification (SRI), cultivating traditional herbal plants and traditional sanitizers training.

    2016

    Launched the independently managed Vale Whistleblower Channel (VWC), for reporting all types of violations of the Code of Ethics and Conduct.

    2017

    The Company activated the Continuous Improvement Project to realize production target of 90,000 metric tons per year.
    Compiled and published the Sustainable Biodiversity Management Guide document (2017) in Collaboration with the Indonesia Business Council for Sustainable Development (IBCSD).

    2018

    Achieved a record of 17.4 million work hours free from accidents/zero LTI, during the period of 5 April 2017 - 5 April 2018.

    2019

    The Preliminary Agreement for the second phase divestment of 20% shares of the Company with Inalum.

    2020

    Completion of the second phase divestment of 20% of the Company’s shares with Inalum.

    2021

    Establishment of New Culture as a grand design of cultural transformation: “Learning Together”.
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