Vale seeks partners for two smelter projects

By Thomas Sembiring

IDX-listed integrated nickel mining firm PT Vale Indonesia Tbk said it is looking for additional partners in developing two smelter projects in Pomalaa, Southeast Sulawesi Province, and in Bahodopi, South Sulawesi Province.

?Considering our limited asset, we?re looking for third party partners to develop (smelters) both the one in Bahodopi as well as in Pomalaa,? PT Vale President Director Nico Kanter said on Monday.

He said that a number of investors from Japan, China and Canada have expressed interest in both projects. ?We?re opining data for them to submit expression of interest and investment,? Nico said, adding that PT Vale wants to have at least 30 percent stake in the two projects.

He explained that the company still maintain its partnership with Sumitomo Metal Mining in the Pomalaa smelter project, but it is also looking for additional partner considering the project will take a longer time to realize as it has yet to secure the various permits including environmental impact assessment (or Amdal) and the forest area use permit.

Editing by Reiner Simanjuntak