PT Vale Indonesia Tbk (IDX: INCO), has planned to invest US$5 billion in nickel projects with its partners in the coming years. Inco plan to construct two battery-grade nickel plant projects one is located in Bahodopi, Sulawesi Tengah, and the other is located in Pomalaa, Sulawesi Tenggara. Inco setup a JV with Sumitomo Metal Mining Co. Ltd. for Pomalaa project and for the Bahadopi project, Chinese investor has expressed interest in partnering with INCO.
The Pomalaa project which will use a high pressure acid leaching process (HPAL) technology is expected to give INCO a 40.000 metric tons per year of battery grade/ Class 1 Nickel. This Pomalaa project investment cost is forecast at around $2.5 billion.
In addition to above, INCO is also plan to increase its Soroako nickel matte production capacity from 77.000 metric tons in 2018 to 90.000 metric tons per year in 2022.