Director of HILL Jaya Angdika in a press conference at the Main Hall of the Indonesia Stock Exchange (IDX), Jakarta, Wednesday, stated he was optimistic that the company's revenue could reach IDR 6 trillion in 2023, with a net profit of IDR 700 billion to IDR 800 billion. In addition, he is optimistic that the volume of nickel mining production can reach 15 million metric tons of nickel in 2023, from as many as 9 million in 2022. HILL also targets coal and nickel mining services to be balanced, each contributing 50 percent of the company's revenue. Hillcon officially listed its initial public offering (IPO) by raising funds worth IDR 552.8 billion, almost half of which will be used to develop the nickel industry in the country.
HILL issued 442.3 million new shares or 15 percent of the company's issued and fully paid-up capital, with an offering price of IDR 1,250 per share. As the world's largest nickel producer, Indonesia is predicted to produce around 1.2 million tons of nickel in 2022, equivalent to 37.5 percent of total global production. Indonesia is also the second largest stainless steel producer in the world after China. In terms of nickel reserves, Indonesia has a share of 22 percent or the equivalent of 21 million tons of metallic nickel, and is predicted to remain the largest contributor to nickel ore and nickel ore supplies in the world, with an estimated market share of 38 percent by 2024.
