Leading the Transition to Sustainable Value Chains

In 2024, the global commodities market continued to correct itself after experiencing a commodity supercycle, primarily due to geopolitical conflicts in Europe. The trend of nickel prices reversed direction due to decreased demand and increased supply growth. However, the Company mitigated these dynamics by consistently prioritizing operational excellence through the implementation of good mining practices, focusing on strengthening a safety-first culture and maintaining cost leadership to achieve effective and efficient production levels. 

The completion of several expansion projects by the subsidiaries resulted in a significant increase in production capacity and drove revenue growth. The Company’s strategy is to maintain production and sales at the most optimal level to ensure positive profitability and sound financial performance. Amidst challenges in the global market, the Company is focused on realizing the downstream integration of the nickel industry as a milestone achievement in the development of Indonesia’s new energy resources sector. In anticipation of market improvements, the Company is poised to lead the transition towards a sustainable value chain.