Vale Is Still Looking For A New Partner For The SOA Project HPAL Sorowako

PT Vale Indonesia Tbk (INCO) is still searching for a new partner for a nickel smelter project with high pressure acid Leach (HPAL) technology in Sorowako, East Luwu, South Sulawesi.

For information, the project is a collaboration between Vale and Zhejiang Huayou Cobalt Company or Huayou.

"We are still in the process. We have not found out who the partner is. But we are still in the process of looking for the right one," said PT Vale Indonesia's Head of Corporate Finance & Investor Relations, Andaru Brahmono Adi when met in Astha, Friday, July 18.

Andaru said he was optimistic that the new partner would be determined this year after the company conducted a market sounding and list partners had been prepared by the company.

"There is already a list. No one has disclosed it yet. It is possible that we are still in the market sounding," he continued.

Andaru emphasized that the search for this new partner had no effect on the schedule for completing the HPAL smelter because it already has partners in the technology sector.

"Without another partner, we can start work," added Andaru.

Vale's previous CEO, Febriany Eddy, said that based on the company's plan, the management of the SOA smelter HPAL Sorowako would cooperate with third parties. Based on discussions that have been conducted between Huayou and Vale, Huayou will play a role in finding a third partner. According to him, both parties also agreed, as long as they meet the prerequisites, Huayou's partner would not be rejected by Vale.

"The conditions we put forward are of course those that are content for good international-level ESG, have a good reputation and are also important partners in supply chain for battery storage or EV. Thus, this is an important unit," he explained.