PT Vale Invests IDR 6.3 Trillion in Pomalaa Mine Project, Targets 2027 Completion
Sat 31 Oct 2026, 16:17 PM
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PT Vale Indonesia Tbk (INCO) reported that the carrying value of its Pomalaa mine development project reached USD 383.5 million (approximately IDR 6.3 trillion) as of September 2026. The nickel mining project, part of the company's broader business expansion, was 89% complete and is scheduled for completion in 2027.
According to the company's interim financial statements as of September 30, 2026, the carrying value of the Pomalaa mine development project increased from USD 339.17 million at the end of 2025. Over the same period, project completion progress rose from 60% to 89%.
PT Vale recorded additions of USD 119.86 million to the Pomalaa mine development project between January and September 2026. Following asset reclassifications totaling USD 75.52 million, the project's carrying value stood at USD 383.50 million at the end of September.
Beyond mining development, PT Vale also reported progress on its Pomalaa High Pressure Acid Leach (HPAL) nickel processing project. In its third-quarter 2026 performance report, the company stated that Lines 1 and 2 had achieved their first mechanical completion milestones.
The achievement marks an important step in PT Vale's downstream development strategy. Through the HPAL project, the company aims to expand its nickel processing operations and strengthen its position in the nickel value chain, reducing its reliance on raw material and intermediate product sales.
Business activity in Pomalaa also increased significantly. PT Vale reported nickel ore sales of 1.90 million wet metric tonnes (wmt) during the first nine months of 2026, up from 278,745 wmt in the same period a year earlier.
In the third quarter of 2026 alone, nickel ore sales from Pomalaa reached 1.31 million wmt, compared with 495,601 wmt in the second quarter. The increase reflects growing nickel ore sales activity across the company's Pomalaa operations.
Overall, PT Vale's construction-in-progress assets reached USD 1.13 billion as of September 2026, up from USD 906.45 million at the end of 2025. These assets include several mine development projects and supporting operational facilities.
In addition to Pomalaa, the Bahodopi mine development project is nearing completion. PT Vale reported a project carrying value of USD 220.77 million, with construction progress reaching 99% and completion targeted for 2026.
Meanwhile, the Sorowako Limonite mine development project recorded a carrying value of US$87.95 million and was 53% complete, with completion expected in 2027. The company is also developing the Bahodopi capacity expansion project, which has a carrying value of USD 45.87 million and is 43% complete.
These projects highlight PT Vale's substantial investment requirements as it works to strengthen mining capacity and expand its downstream nickel operations. The company remains committed to advancing strategic projects as part of its long-term growth strategy.
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