Merdeka Battery Targets 35 Million WMT Nickel Ore Production

PT Merdeka Battery Materials Tbk (MBMA) has reshuffled its board of directors while setting ambitious production targets for 2026, as shareholders approved the appointment of two new directors to strengthen the company's financial and operational execution at its Annual General Meeting of Shareholders (AGMS) on Wednesday (June 24).

Shareholders appointed James Nicholas as Chief Financial Officer and Ashutosh Srivastava Fausimm as Director of Operations, effective upon the conclusion of the AGMS. The meeting also approved the resignation of Anthony Kartono Tan as Director. MBMA expressed its appreciation for Anthony's contributions during his tenure.

"The strengthened Board of Directors is expected to reinforce MBMA's focus on financial discipline, operational execution, and long-term value creation as the company continues to expand its position across the battery materials value chain," President Director Teddy Nuryanto Oetomo said in a statement.

Alongside the board reshuffle, the PT Merdeka Copper Gold Tbk subsidiary unveiled higher production targets for 2026. The company aims to produce 8.0–10.0 million wet metric tonnes (wmt) of saprolite ore and 20.0–25.0 million wmt of limonite ore, bringing its total nickel ore production target to 35 million wmt.

Downstream, MBMA targets 70,000–80,000 tonnes of Nickel Pig Iron (NPI) production. Output of High-Grade Nickel Matte (HGNM) is projected at 44,000–48,000 tonnes, representing an increase of up to 140% from the 19,998 tonnes produced in 2025.

The targets build on MBMA's solid performance in 2025. The company posted USD 1.435 billion in revenue and USD 219 million in EBITDA during the year. Its Sulawesi Cahaya Mineral (SCM) mine produced 7.0 million wmt of saprolite ore and 14.7 million wmt of limonite ore, while downstream production reached 73,871 tonnes of NPI and 25,994 tonnes of Mixed Hydroxide Precipitate (MHP).

To support its production targets, MBMA has commissioned a Feed Preparation Plant (FPP) that transports limonite slurry via pipeline from the SCM mine to the PT ESG New Energy Material HPAL processing facility. The HPAL SLNC project, which has an annual nickel production capacity of 90,000 tonnes, is scheduled to commission its first production line in the second half of 2026.

• President Commissioner: Winato Kartono
• Commissioner: Michael W.P. Soeryadjaya
• Independent Commissioner: Prof. Dr. Didi Achjari
• President Director: Teddy Nuryanto Oetomo
• Director: Titien Supeno
• Director: James Nicholas
• Director: Ashutosh Srivastava Fausimm

Source: https://www.dunia-energi.com/rombak-direksi-merdeka-battery-target-produksi-bijih-nikel-35-juta-wmt/

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