PT Petrosea Tbk to Manage Nickel Mining in the Bahodopi Blocks 2 and 3 Areas, Morowali Regency, Central Sulawesi. The areas are part of the concession area of PT Vale Indonesia Tbk (INCO).

PT Petrosea Tbk is known to have won the mining services contract for the Bahodopi Blocks 2 and 3 areas through a tender process.

The value of the mining services contract is estimated to reach USD 1 billion or approximately IDR 16 trillion, with a duration of 10 years.

The scope of work includes overburden removal services, nickel ore mining and transportation, as well as the construction of infrastructure related to mining services.

It is known that INCO is now part of the state-owned mining holding, MIND ID.

Together with PT Vale Canada Limited, MIND ID controls INCO with a 34 percent ownership stake.

PT Petrosea Tbk is a subsidiary of the business conglomerate owned by Prajogo Pangestu, which controls PTRO through PT Petrindo Jaya Kreasi Tbk.

Petrosea and Vale previously collaborated to accelerate the development of the nickel mining project in the Pomalaa Block, Kolaka, Southeast Sulawesi.

The two companies have held a series of First Cut ceremonies in the Mining IGP Pomalaa area, starting on Friday, October 4, 2024.

Petrosea has been entrusted with completing the work at the IGP Pomalaa Site until March 2026.

INCO is targeting a loan of USD 1.2 billion for the development project of the mine.

According to INCO’s data, the mine development project in Bahodopi is expected to be completed by Q4/2025, with an additional production capacity of 3.84 million tons of saprolite per year.

The capital expenditure for the project is USD 399 million.

Additionally, INCO is pursuing the development of a new mining block in Pomalaa, with an expected annual production increase of 28.15 million tons of saprolite and limonite.

The capital expenditure for this new mining block is USD 1 billion, and it is expected to begin operations in Q2/2026.

The new mining project in Pomalaa is 22% complete.

Meanwhile, the new mining block in Sorowako has an investment of around USD 257 million, with an expected additional annual production of 11.5 million tons of limonite.

The project is targeted to be completed by Q3/2026.