PT Vale Indonesia (INCO) has addressed reports regarding the potential entry of a South Korean investor into its Sorowako limonite project, which is currently under construction and valued at approximately US$1.9 billion (Rp31 trillion).
In an official disclosure on Thursday, July 24, 2025, Corporate Secretary Wiwik Wahyuni said that the company remains open to collaboration with strategic partners, including those from South Korea. However, she clarified that no agreements or contracts have been signed to date.
“The company is currently reviewing several strategic options and is in the discussion phase,” Wiwik said on Thursday, July 24, 2025.
The Sorowako limonite mine project, located in East Luwu, South Sulawesi, is expected to be completed by early 2027. Meanwhile, the HPAL (High-Pressure Acid Leach) smelter project tied to the same site is also in the early stages of construction, with completion targeted by late 2027. One of the confirmed project partners is Huayou Cobalt.
Wiwik noted that the progress of both projects will depend on multiple factors, including on-site conditions, regulatory permits, coordination with partners, and funding availability. The required investment is expected to come from a combination of internal resources and external financing.
Once operational, the projects are projected to contribute significantly to the company’s revenue, net income, and cash flow, aligning with Vale's long-term strategic goals.
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