INCO - Partners with Leighton Asia for pomalaa mine development

INCO - Partners with Leighton Asia for pomalaa mine development Vale Indonesia (INCO) has partnered with CIMIC Group's subsidiary, Leighton Asia, to develop mining infrastructure for the Integrated Mines of Pomalaa (IMP) project in Southeast Sulawesi. This contract is expected to generate revenue of approximately AUD154 mn, equivalent to IDR1.64 tn (USD/IDR: IDR10,677/AUD) for Leighton Asia. Construction is scheduled to commence in the first half of 2024, with a project duration of 26 months. (Source : Bisnis Indonesia) Comment : With the additional infrastructure in Pomalaa, INCO has recently absorbed IDR3.51 tn in capex, equivalent to 58% of the budgeted capex. This capex realization excludes the Morowali project.