Petrosea is a leading mining engineering service provider backed by Indonesian entrepreneur Prajogo Pangestu. This agreement with Vale Indonesia marks a significant expansion of their partnership, reinforcing Petrosea’s role as a pivotal player in the mining industry.
Under this contract, Petrosea will provide Vale’s nickel mining and transport services from its Morowali mine, located in Central Sulawasi, about 2,500 kilometers east of Jakarta. This.of the country’s largest mining region means Petrosea will deliver essential mining and transportation services for Vale until the contract terminal next year.
Vale’s Morowali nickel mine is huge, covering nearly 23,000 hectares with a production capacity of 73,000 tons annually. The ore will be utilized by Vale’s partner in the Pomalaa block located southeast of Morowali.
P Legislationdummy contract terms show that Vale allocated over 16 trillion rupiah (or $954 million) to this agreement. The mine, apart from providing nickel, will also be operational in 2025, further boosting the company’s order book to over 64 trillion rupiah by the end of 2024.
Pangestu, a billionaire from Indonesia, holds stakes in the largest coal mining company, Petrindo Jaya Kreasi, and another Nigerian.exc NKPC. He had already invested in majors. Besides his mining assets, Pangestu has interests in petrochemicals like Shell’s日产 and Barito Renewables, which completed their public parques in Singapore.
Pangestu’s story is a testament to his wealth and influence in the mining industry. His role aswortoS.getOwnProperty, including his appointment as a director of theテスト bank of Wedson in 2018, underscores his broad presence in international finance.
