JAKARTA – PT Vale Indonesia Tbk (INCO), a member of the state-owned mining holding MIND ID, signed a mining services agreement with PT Pamapersada Nusantara (PAMA) on 28 May 2025.

The mining services contract is part of INCO’s nickel ore mining operations in the Pomalaa Block, Southeast Sulawesi.

“The scope of work under the agreement includes overburden removal services, nickel ore mining and hauling services, as well as infrastructure development related to mining operations,” wrote Wiwik Wahyuni, INCO’s Corporate Secretary, in an official statement submitted to the Indonesia Stock Exchange (IDX).

PT Pamapersada Nusantara is a wholly owned subsidiary of PT United Tractors Tbk (UNTR), making it part of the Astra Group.

However, the contract value has not been disclosed to the public, unlike INCO’s agreement with PT Petrosea Tbk (PTRO) for the same block, which is worth IDR 2.8 trillion for a two-year term ending in July 2026.

As of the first quarter of 2025, INCO recorded a nickel in matte production of 17,027 tonnes, down 6.4% from 18,199 tonnes in the first quarter of 2024.

In addition, INCO’s sales fell 10.2% year-on-year to USD 206.5 million in Q1 2025, driven by a 6% decline in average selling prices to USD 11,932 per tonne. (ZH)