JAKARTA - PT Vale Indonesia Tbk (INCO) and GEM Co Ltd, Beijing, China, have reportedly agreed upon a contract regarding investment in net-zero nickel production in Central Sulawesi. The contract signing took place during the bilateral business meeting between Indonesia and China, overseen by Indonesian President, Prabowo Subianto, himself.

In the press release quoted Monday (11/11), Febriany Eddy, Chief Executive Officer (CEO) of INCO, mentioned that this net-zero project design aims to generate mixed hydroxide precipitate (MHP) under green mining practices with the most advanced technology to promote sustainable nickel refinery.

“Through the cross-border market collaboration, this project will strengthen Indonesia’s central position in the global clean energy transition,” Eddy said.

This project is valued at USD 1.4 billion and uses High-Pressure Acid Leaching (HPAL) technology in Central Sulawesi. It will generate net-zero nickel with targeted production of 60,000 tons of nickel in MHP per annum. MHP is a vital component for energy saving system in batteries.

The investment will be allocated to research and development centre, worth USD 40 million, particularly for knowledge transfer and local talent development.

Then, another USD 30 million will be channelled to ESG compound, including green landscaping, employees’ mess, local water supply, and waste management. Lastly, another USD 10 million will be directed to community and public infrastructure development. (LK/ZH)