PT Vale Indonesia Tbk (PT Vale) has been operating for 56 years and is one of the largest mining companies in Indonesia. The company has a long and complex history and has experienced various changes and developments in its business journey.
PT Vale Indonesia Tbk was founded in 1968 under the name PT International Nickel Indonesia (INCO). Initially, this company was a joint venture between the Indonesian government and a foreign company, namely the International Nickel Company of Canada (INCO). In 1971, this company began operating in Sorowako, South Sulawesi, with nickel production as its main product.
In its business journey, PT Vale Indonesia Tbk has undergone several major changes. In 2005, the company acquired PT Inco Indonesia, a subsidiary of INCO. This acquisition made PT Vale Indonesia Tbk one of the largest mining companies in Indonesia.
PT Vale Indonesia Tbk in 2014 made a major change in its share ownership structure. The company made a public offering of shares through an initial public offering (IPO) which made the company’s shares listed on the Indonesia Stock Exchange (IDX). In the same year, the company also changed its name from PT International Nickel Indonesia (INCO) to PT Vale Indonesia Tbk.
Currently, PT Vale is one of the largest mining companies in Indonesia with nickel production as its main product. The company has several mining projects in Indonesia, including the Sorowako, Pomalaa, and Bahodopi projects. In addition, the company has several nickel processing projects, including the nickel processing project in Sambalagi, Morowali Regency, Central Sulawesi.
In recent years, PT Vale has made several innovations in the field of nickel mining and processing. The company has developed more efficient and environmentally friendly nickel processing technology and has conducted several research and development projects to increase nickel production.
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Then, PT Mineral Industri Indonesia (Mind Id) acquired 20% of PT Vale Indonesia Tbk’s shares in 2020. And this year, Mind Id again acquired 14% of PT Vale Indonesia’s shares, making the company the largest shareholder in PT Vale Indonesia. This acquisition allows PT Vale Indonesia Tbk to increase nickel production and expand its business in Indonesia.
Currently, PT Vale is one of the largest nickel companies in the world with production reaching 71,000 tons of nickel matte per year. They also continue to improve financial and operational performance and expand their international market reach.
In PT Vale’s March 2024 financial report, PT Vale recorded a 15% increase in revenue compared to the previous year. This is evidence of the success of the business strategy implemented by the company.
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At the age of 56, Thursday (25/7), CEO of PT Vale Indonesia Tbk Febriany Eddy admitted that she was very proud of PT Vale’s achievements while operating in Indonesia. “We certainly show consistency and commitment in running sustainable and environmentally friendly operations. We believe that every element of society, including local communities, government, and PT Vale employees have made very valuable contributions to this success,” she admitted.
The first female CEO in the mining sector also expressed her hope for mining in Indonesia, especially PT Vale, to continue to be part of the global climate solution and make a positive contribution to society. “At the age of 56, we have achieved a lot. However, we also realize that there are still many challenges to face. We hope to continue to improve our performance and provide a greater positive impact on society. We believe that with cooperation and commitment, we can achieve our goals and become a better company in the future,” she continued.
According to Febriany, PT Vale continues to innovate and is committed as part of its efforts to maintain sustainability. This includes implementing various innovations in its operations. One of them is developing environmentally friendly technology to reduce carbon emissions and environmental impacts from mining activities.
“PT Vale is committed to reducing environmental impact through the use of advanced technology and responsible mining practices. We focus on sustainability and innovation to ensure that our operations are not only economically profitable but also environmentally friendly,” added Febriany.
Meanwhile, Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan on one occasion said that PT Vale Indonesia is one of the largest nickel companies in Indonesia that also has good ESG (environmental, social and governance) management. (Z-2)
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