Our history in Indonesia
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About PT Vale Indonesia
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About PT Vale Indonesia
Over half a century of operations in Indonesia, PT Vale Indonesia Tbk grew to become one of the leading mineral mining companies, with a longterm commitment to positively contributing to Indonesia’s sustainable development.
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Governance
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Investors
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Investors
Here you find information about our shareholders, our financial highlights and statements, dividends and our annual reports. Learn more about our share range, holders, and performance.
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Sustainability
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Transparency and Policies
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Transparency and Policies
Our company has a set of documents and policies that guide our work according to our purpose and the legal and international standards. Learn more about our policies.
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Careers
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Careers
Find the most suitable opportunity for your professional profile and come and be part of our history.
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ESG
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56 Years of PT Vale: Synergizing for Sustainable Mining
In its 56th year, PT Vale Indonesia Tbk has undergone significant transformation. The company has demonstrated its commitment to synergize with the government after the majority of its shares were acquired by the state-owned mining holding company, PT Mineral Industri Indonesia (MIND ID). Together with Vale Canada Limited (VCL) and Sumitomo Metal Mining Co., Ltd (SMM), MIND ID signed a share purchase agreement for the divestment of PT Vale Indonesia on February 26, 2024.
The signing of the divestment agreement is also a prerequisite for the extension of PT Vale’s Contract of Work (CoW) in the form of a Special Mining Business License (IUPK). With the IUPK, the company has legal certainty to operate in its concession area and implement its business growth strategy.
PT Vale has been present in Indonesia since it began exploration in the 1920s and established an entity formerly known as PT International Nickel Indonesia (INCO) in July 1968. At that time, an agreement with the government was made in the form of a Contract of Work (CoW).
This year’s transformation of PT Vale is evidence that the company can demonstrate its credibility as a mining company that can provide benefits to the environment and society.
Over 56 years, PT Vale has faced various challenges and achieved many accomplishments. Since the signing of the CoW during the PT INCO era, the company has implemented numerous innovations to ensure smooth operations, including the construction of three Hydroelectric Power Plants (HEPP). These HEPPs make the nickel processing plant the one with the lowest carbon intensity in Indonesia.
Years before the Indonesian government mandated mineral downstreaming, PT Vale had been operating a processing plant in Sorowako since 1977. The inauguration of this processing plant was attended by then-President Soeharto.
Throughout its journey, PT INCO evolved into a leading nickel mining company. In 2011, a change in shareholder composition led to the entity being renamed PT Vale Indonesia Tbk.
PT Vale adheres firmly to environmental, social, and governance (ESG) principles in its mining activities. The implementation of ESG as the main guiding principle directs operations toward responsibility and sustainability.
PT Vale's success in environmental stewardship can be seen from the clarity of Lake Matano's water, which remains pristine. This clarity is a result of PT Vale’s consistency in meeting standards for managing mine runoff water.
The company’s commitment to sustainability is also evident in its reclamation and rehabilitation processes, including the maintenance of watershed areas supported by a nursery center.
The theme for PT Vale's 56th anniversary is "Stepping Forward, Synergizing for Sustainable Living." This theme reflects three things. First, the certainty of the company's business license through divestment and IUPK. Second, in building the company, PT Vale always collaborates harmoniously with various elements to achieve common goals. Third, aligning with the company's vision to enhance quality of life and build a better future together.
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
2024
On February 26, 2024, in Jakarta, PT Mineral Industri Indonesia (MIND ID), together with Vale Canada Limited (VCL) and Sumitomo Metal Mining Co., Ltd. (SMM), signed a share purchase agreement for the divestment of PT Vale Indonesia Tbk. MIND ID, VCL, and SMM have agreed on the acquisition of 14% of PT Vale’s total shares by MIND ID.
PT Vale has officially received an extension of its operational permit (for the period until December 28, 2035) following the issuance of the Special Mining Business License (IUPK) in the name of PT Vale. The IUPK, received by the Company on May 13, 2024, provides legal certainty for the Company to operate within its concession area and to execute its business growth strategy.
2023
Groundbreaking for an integrated low-carbon nickel mining and processing project in Morowali, Central Sulawesi. The project, included in the Indonesia Growth Project (IGP) Morowali agenda, is a collaboration between PT Vale, Xinhai and TISCO. The processing plant is based on a Rotary Kiln Electric Furnace (RKEF), supported by electricity from natural gas. PT Vale and its partners have allocated an investment of Rp37.5 trillion for a production capacity of 73 thousand tons annually.
Definitive agreement by Ford to join the Indonesia Growth Project (IGP) Pomalaa project with PT Vale and Huayou. This agreement was witnessed by Indonesian President Joko Widodo and ministers of the ‘Indonesia Maju’ cabinet.
Inauguration of PT Vale's Sawerigading Wallacea Biodiversity Park (Taman Kehati) by President Joko Widodo. Taman Kehati is the company's effort to operate integrated facilities to achieve integrated mining that fosters biodiversity.
Definitive agreement by Ford to join the Indonesia Growth Project (IGP) Pomalaa project with PT Vale and Huayou. This agreement was witnessed by Indonesian President Joko Widodo and ministers of the ‘Indonesia Maju’ cabinet.
2022
Groundbreaking of the Indonesia Growth Project (IGP) Pomalaa, in collaboration with PT Vale and Huayou, to develop a nickel processing facility with an investment of US$4.5 billion. This project will commence a smelter with HPAL (High-Pressure Acid Leach) technology to produce 120,000 tons of nickel and around 15,000 tons of cobalt in MHP products.
Cooperation agreement between PT Vale and Huayou for the development of the HPAL smelter to process limonite ore in Sorowako. The project investment value is US$1.8 billion.
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Esp (electrostatic precipitator) facilities are used to control articulate emissions in processing plants.
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