INCO – Operating license' extension till December 2035

INCO – Operating license' extension till December 2035 Vale Indonesia (INCO) officially obtained an extension of its operating license or IUPK, back on May 13, 2024, which the IUPK is still active until December 28, 2035 (includes an additional extension of 10 years). Based on the IUPK, INCO is required to complete the construction of new smelter facilities, including further downstream facilities within the specified period. The development will be carried out by referring to laws and regulations, feasibility studies and INCO policies and practices. INCO is also required to pay IUPK revenue sharing of 10% of net profit to the government in accordance with applicable regulations. Previously, INCO had signed an agreement on the framework and development of HPAL smelters in Southeast Sulawesi worth USD4.5 bn in 2022. INCO has submitted a commitment to the completion of the construction of the smelter. (Source : Kata Data)