30 April 2025
Jakarta, April 29 2025 – PT Trimegah Bangun Persada Tbk (NCKL), also known as Harita Nickel, a sustainable integrated nickel mining and processing company, continues its operational efficiency efforts by completing the construction of the PT Karunia Permai Sentosa (KPS) ferronickel (FeNi) smelter in January 2025. The first phase of the smelter with Rotary Kiln Electric Furnace (RKEF) technology reached its full capacity in March 2025 and contributed to sales from Harita Nickel’s RKEF line which totaled 43,873 tons of nickel content in FeNi in the first quarter of 2025.
From the mining business line, Harita Nickel made total nickel ore sales of 5.49 million wet metric tons (wmt) to affiliated companies in the first quarter of 2025. Meanwhile, from the High Pressure Acid Leaching (HPAL) line in the same period, sales were recorded at 30,263 tons of nickel content, consisting of Mixed Hydroxide Precipitate (MHP) of 19,837 tons and Nickel Sulfate (NiSO₄) of 10,426 tons.
Citing the financial report for the fiscal period ending March 31, 2025, the company operating in South Halmahera, North Maluku, recorded revenue of IDR 7.13 trillion, gross profit of IDR 2.10 trillion and profit attributable to owners of the parent entity of IDR 1.66 trillion.
The decline in nickel prices over the past two years has left the nickel industry in a challenging condition. S&P Global data shows that nickel prices in 2025 will reach USD 15,078 per metric ton, the lowest point since 2020. Throughout 2024, the average price was recorded at USD 15,328 per metric ton or down 7.7 percent compared to the previous year.
Harita Nickel Finance Director, Suparsin D. Liwan in his press statement stated, “The current condition of the nickel industry has made business players make various efforts to boost operational efficiency, including Harita Nickel. The company continues to tighten operational costs for all business units and focuses on efforts to maintain long-term financial health.”
Another operational strategy carried out is to start construction work on a factory that produces quicklime, as a supporting material for the HPAL process and will increase the efficiency of supporting raw material costs.
Major challenges also still hang over the Indonesian nickel industry, ranging from global geopolitical dynamics, production balance, to strict environmental standards. Realizing this, in addition to efficiency, Harita Nickel also implements sustainability strategies to ensure long-term growth stability by completing the international mining standard audit process of the Initiative for Responsible Mining Assurance (IRMA). This audit will be the first in Asia for an integrated nickel mining and processing company. Previously, the company had also completed the Responsible Minerals Assurance Process (RMAP) from the Responsible Minerals Initiative (RMI). These two audits ensure responsible nickel procurement practices that meet international standards.
Harita Nickel has also completed the Landscape Level Nature Risk Assessment (LNRA) which strengthens environmental management and ensures a transparent approach to sustainable development in new concessions. Harita Nickel's other commitment to accountability and transparency in implementing Environmental, Social and Governance (ESG) principles is demonstrated by publishing its third sustainability report.
Harita Nickel Sustainability Director Lim Sian Choo added, “The Company has successfully increased its use of sustainable energy by 29.8% percent compared to 2023.”
One of Harita Nickel’s emission reduction contributions was by planting 2,025 mangrove seedlings on Obi Island and 1,750 seedlings in Kayoa, South Halmahera, in collaboration with the local government last year.
“Moving forward, Harita Nickel will continue to strengthen its commitment to maximizing efficiency, optimizing asset utilization, and integrating sustainability values into cost management. Including encouraging sustainability initiatives, community development and technological innovation,” concluded Sian Choo.
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About Harita Nickel
PT Trimegah Bangun Persada Tbk (NCKL) or Harita Nickel is part of the Harita Group, which operates sustainable integrated nickel mining and processing on Obi Island, South Halmahera, North Maluku. In addition to its Mining Business License (IUP), the company has been operating a saprolite nickel smelting plant since 2017 using Rotary Kiln Electric Furnace (RKEF) technology, and since 2021, it has also operated a limonite nickel processing and refining facility using High Pressure Acid Leaching (HPAL) technology in the same operational area. Both facilities were established to support the Indonesian government's downstream mandate.
Harita Nickel is a pioneer in Indonesia in processing and refining low-grade limonite nickel using HPAL technology. This technology allows the processing of previously unused limonite nickel into a strategically valuable product, Mixed Hydroxide Precipitate (MHP). Using the same technology, MHP as an intermediate product has successfully been processed into a final product, Nickel Sulfate (NiSO4), which is a key material in the production of cathodes for new energy sources, such as electric vehicle batteries.
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