Our history in Indonesia

About Vale

Our history in Indonesia

Our history in Indonesia

Beni Wahju (far right) stands on the brink of Larona River with Inco Ltd exploration team in 1966
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.

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.


Milestone

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