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Vale Indonesia (INCO), alongside Zhejiang Huayou Cobalt Co. Ltd., officially initiated the groundbreaking phase of the Pomalaa Block development project in Kolaka Regency, Southeast Sulawesi. The total investment value that will be spent on establishing the High-Pressure Acid Leach (HPAL) facility and a joint nickel mine of Vale and Huayou is estimated to reach IDR67.6 tn. These projects are said to employ 12 thousand workers for the construction process and will have annual capacity of up to 120k tonne of nickel in the form of Mixed Hydroxide Precipitate (MHP) which can be further processed into material suitable for electric vehicle. INCO also declared that the HPAL smelter will not using coal-fired power plant for its power supply. (Source : Company) Comment: We are positive with the development of INCO's HPAL Pomalaa project that will become its growth driver in the next 3 years.