JAKARTA (Reuters) -Nickel miner Vale Indonesia <INCO.JK> plans to seek between $1 billion and $1.2 billion in financing over 2026-2027 to help fund its mine and smelter projects, Andaru Brahmono Adi, head of corporate finance and investor relations, said on Friday.
The first round of financing, around $500 million, will likely come from bank loans in early 2026, he said, adding the company may tap into the bond market in 2027.
“This external funding will be used toward funding our projects. Now we are developing three mines…we are also building HPAL smelters with our partners,” he told reporters.
Vale Indonesia is currently developing nickel mines in several areas on Sulawesi island, which in recent years has seen an uptick in domestic processing of nickel, one of Indonesia’s most cherished metals and used to make batteries for electric vehicles.
Its mine in Bahodopi will start operations later this year, Andaru said, while the mine in Pomalaa will start next year.
The company is also developing facilities for a process known as high-pressure acid leaching (HPAL), with companies such as Ford and China’s Zhejiang Huayou Cobalt and battery materials producer GEM as its partners.
(Reporting by Fransiska Nangoy; Writing by Stanley Widianto; Editing by David Stanway)
