Vale to invest $2 billion in Sulawesi nickel mine
Thursday, January 31 2013 - 01:26 AM WIB
Vale Indonesia, formerly known as PT International Nickel Indonesia (Inco), plans to invest up to about US$2 billion (about Rp 19.3 trillion) to further develop the company?s nickel mine operations in Morowali, Central Sulawesi and in Sorowako, South Sulawesi, Kompas reported on Thursday.
The company?s Vice President Bernardus Irmanto said in Sarowoko on Wednesday that the investment funds would be used to expand mining operations and to build smelting plants in Bahodapi mine block in Morowali, and in Sorowako.
Bernardus said that the company was still waiting for licenses from the local government and forest-lease permits from the forestry ministry to start the expansion projects. Especially for the Bahodapi block, the expansion plan would be carried out depending on the results of renegotiations with the government on the company?s contract of works, he added. (*)