INCO – Unfulfilled investment obligations

INCO – Unfulfilled investment obligations Referring to Vale Indonesia's (INCO) contract of work on October 17, 2014, there are several investment obligations that are not fulfilled, namely the Sorowako, Pomalaa and Bahodopi projects. Through the 2014 amendment KK, INCO is committed to invest in dryer & kiln capacity building to increase the average production of the block. However, through the application for an extension to a special mining business license (IUPK), INCO changed the commitment to the construction of a High Pressure Acid Leaching (HPAL) plant with a production capacity of approximately 60,000 Mixed Hydroxide Precipitate (MHP). The plan was endorsed through the region-wide development plan (RSPW) of April 10, 2023. In addition, there were 2 INCO investment commitments in the 2014 KK amendment which changed at the end of the concession period. INCO amended the HPAL facility development to a production capacity of approximately 15,000 tons of mixed sulphide precipitate (MSP). The proposed development of the Bahopi project also did not show significant progress in terms of economy and business feasibility. (Source : Bisnis Indonesia)