PT Vale Indonesia at A Glance

PT Vale Indonesia at A Glance

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.

 

Company General Information

Company Name PT Vale Indonesia Tbk
Establishment Date July 25, 1968
Share Code INCO
Stock Exchange Listing Date May 16, 1990 at the Indonesia Stock Exchange (formerly Jakarta Stock Exchange)
Authorized Capital 39,745,354,880 shares, with par value of IDR25 per share.
Issued and Fully Paid Up Capital 9,936,338,720 shares, with par value of IDR25 per shares.
Head Office Sequis Tower, 20th Floor, Unit 6 & 7
Jl. Jend. Sudirman Kav. 71
Jakarta 12190, Indonesia
Phone: +62-21 524 9000
Fax: +62-21 524 9020
Representative Offices Makassar, Sulawesi Selatan
Jl. Somba Opu No. 281
Makassar 90113
Sulawesi Selatan, Indonesia
Tel.: +62 411 366 9000
Fax.: +62 411 366 9020
Processing Plant Main Office Plant Site Sorowako
Luwu Timur 92984
Sulawesi Selatan, Indonesia
Tel.: +62 475 332 9100
Fax.: +62 475 332 9575

Legal Basis for Establishment

PT Vale Indonesia was established by Deed No. 49 dated July 25, 1968, drawn up before Eliza Pondaag, a public notary in Jakarta. The Company’s Articles of Association were approved by the Minister of Justice of the Republic of Indonesia in Decision Letter No. J.A.5/59/18 dated July 26, 1968, and published in Supplement No. 93 to State Gazette of the Republic of Indonesia No. 62 dated August 2, 1968. These Articles of Association have been amended several times with the latest amendment made by Deed No. 121, dated June 29, 2015, drawn up before Leolin Jayayanti S.H., a public notary in Jakarta, to reflect amendments to the Company’s Articles of Association as approved by the Extraordinary General Meeting of Shareholders (“Extraordinary GMS”) on June 29, 2015. This amendment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU-0938647.AH.01.02 Year 2015 dated July 3, 2015, and obtained acceptance of notification from the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU-AH.01.03-0948078 Year 2015 dated July 3, 2015.

Contract of Work

Grafis Kontrak Karya PT Vale 

We operate under the legal framework of CoW which was amended on October 17th, 2014 and is valid until December 28th, 2025 with a concession area of 118,017 hectares covering South Sulawesi (70,566 hectares), Central Sulawesi (22,699 hectares) and Southeast Sulawesi (24,752 hectares).

The Company mines laterite nickel ore and processes it into the final product of nickel in matte. The average volume of nickel production per year reaches 75,000 tons. In producing nickel in the Sorowako Block, we use pyro metallurgical technology (in melting the laterite nickel ore). Our’s nickel product is exported entirely to Vale Canada Limited and Sumitomo Metal Mining in a long-term special contract agreed upon by the two companies.

The Company also continues its plan to construct nickel processing plant and its facilities in Sambalagi, Morowali Regency, Central Sulawesi and in Pomalaa, Kolaka Regency, Southeast Sulawesi. The project in Bahodopi, is to build a smelter to process saprolite nickel ore and produce ferronickel, a main material for stainless steel making. In Pomalaa, the project is to build a processing facility with HPAL (High Pressure Acid Leaching) technology to process limonite ore and produce intermediate product which can be further processing to material for Electric Vehicle (“EV”) battery.

Shareholding

PT Vale's Distribution of shares graphic 

VCL, part of Vale Base Metals and the second largest nickel producer in the world, currently has 43.79% of our shares. While SMM, one of the largest mining and smelting companies in Japan, owns 15.03% of our shares. On October 7, 2020, Inalum, now known as MIND ID has 20% of our shares. Mining Industry Indonesia (MIND ID) is Indonesia's mining industry holding company comprising PT ANTAM Tbk, PT Bukit Asam, PT Freeport Indonesia, PT Indonesia Asahan Aluminium (Persero), and PT Timah Tbk. The remaining 21.18% of the shares are owned by public shareholders and others.

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