Harita Nickel

What Harita Nickel does

Harita Nickel, legally PT Trimegah Bangun Persada Tbk (IDX: NCKL), is an Indonesian integrated nickel mining and processing company founded in 2004 and listed on the Indonesia Stock Exchange since 2023. The company operates entirely on Obi Island in North Maluku, covering more than 11,000 hectares of mining concessions with estimated ore reserves and resources of 310.8 million WMT (215.1M WMT limonite, 95.7M WMT saprolite). Harita Nickel processes ore through two parallel metallurgical pathways: high-grade saprolite ore is fed into three Rotary Kiln Electric Furnace (RKEF) smelters (PT MSP, PT HJF, PT KPS) producing ferronickel for global stainless steel manufacturers, while low-grade limonite ore is processed through two High Pressure Acid Leach (HPAL) facilities (PT HPL, PT ONC) producing Mixed Hydroxide Precipitate (MHP), nickel sulfate, and cobalt sulfate for EV battery manufacturers. Total installed capacity is approximately 240,000 tNi/yr FeNi and 120,000 tNi+Co/yr HPAL (including 14,250 tCo/yr).

The company generates revenue from two segments: nickel mining (direct ore sales of saprolite and limonite) and nickel processing (ferro nickel, MHP, nickel sulfate, cobalt sulfate). In 2025, total revenue reached Rp29,633 billion (+9.9% YoY), split between mining (Rp7,178 billion, +88.8% YoY) and processing (Rp22,455 billion, -3.1% YoY), with net profit of Rp10,970 billion (+42.2% YoY). Products are sold under long-term offtake contracts and spot arrangements indexed to LME benchmarks to global industrial buyers, primarily stainless steel producers in Asia/Europe and EV battery/cathode manufacturers. A Rp4,091 billion share of profit from associates (up 103.2% YoY) diversifies the earnings base. The company is pursuing IRMA Stage 2 audit, RMI RMAP certification, and a 30% absolute GHG reduction by 2030 / net zero by 2060 decarbonization roadmap, alongside community programs across 10 villages and approximately Rp796 billion invested in sustainable energy since 2021.

Name

Harita Nickel

Legal name

PT Trimegah Bangun Persada Tbk

Website

https://tbpnickel.com

Company type

Public

Founded year

2004

Operating status

Ipo

Headcount range

5,001–10,000 employees

Short description

Harita Nickel (IDX: NCKL) is an Indonesian integrated nickel miner and processor operating solely on Obi Island, producing ferronickel via RKEF smelters for stainless steel customers and MHP, nickel sulfate, and cobalt sulfate via HPAL refineries for EV battery manufacturers. It serves global industrial buyers under offtake contracts from a single 11,000+ hectare concession with ~240,000 tNi/yr FeNi and 120,000 tNi+Co/yr HPAL capacity.

Ownership category

akta.pro rank

Product category

Nickel Mining and Processing

NAICS

Copper, Nickel, Lead, and Zinc Mining (21223), Other Metal Ore Mining (212290), Iron and Steel Mills and Ferroalloy Manufacturing (331110)

SIC

Metal Mining (1000), Primary Smelting & Refining Of Nonferrous Metals (3330), Industrial Inorganic Chemicals (2810)

akta.pro primary industry

Nickel Mining & Concentrates (IMAKAFAB)

akta.pro secondary industries

Battery Raw Materials Mining & Refining (Lithium, Nickel, Cobalt, Manganese, Graphite) (EUAFABAA), Battery-Grade Chemical Processing (LiOH/Li2CO3, Ni/Co Sulfates, Mn Sulfate) (IMAKAFAI)

Keywords

• Nickel laterite mining
• Ferro nickel production
• HPAL nickel processing
• RKEF smelting operations
• Battery grade nickel chemicals

Headquarters

HQ city

Jakarta Pusat

HQ country

Indonesia

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Nickel Ore Sales: Direct sales of saprolite and limonite nickel ore extracted from Obi Island. In 2025, total nickel ore sales volume reached 30.59 million WMT (saprolite 12.09M WMT, limonite 18.50M WMT), up 28.8% from prior year. Revenue from nickel mining segment was Rp7,178 billion in 2025.
2. Ferro Nickel (FeNi) Sales: FeNi produced from saprolite ore via RKEF smelters (PT MSP, PT HJF, PT KPS) sold to stainless steel manufacturers. In 2024, FeNi sales volume reached 126,344 tons, up 25.2% from prior year.
3. MHP, Nickel Sulfate, and Cobalt Sulfate Sales: Refined products from HPAL processing of limonite ore sold to EV battery manufacturers. In 2025, HPAL product sales (MHP and NiSO4) reached 130,551 tons, up 27.9% from 102,054 tons in 2024. Revenue from nickel processing segment was Rp22,455 billion in 2025.
4. Associate Entity Earnings: Harita Nickel holds investments in associate entities that contribute significant earnings. In 2025, share of profit from associates reached Rp4,091 billion, up 103.2% from Rp2,013 billion in 2024.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels9 records

Core offering

Harita Nickel is an integrated nickel mining and processing company that extracts nickel laterite ore from its Obi Island concessions and processes it through RKEF smelters into ferro nickel (FeNi) for stainless steel and through HPAL refineries into Mixed Hydroxide Precipitate (MHP), nickel sulfate, cobalt sulfate, and electrolytic cobalt for lithium-ion EV batteries. It also sells saprolite and limonite nickel ore directly to offtake customers and trading partners.

Product overview

Harita Nickel operates an integrated nickel mining and processing platform on Obi Island, North Maluku, combining two distinct ore processing pathways. The saprolite ore (1.5%–3% nickel) feeds three RKEF smelters—PT MSP (4 lines, 25,000 tNi/yr), PT HJF (8 lines, 95,000 tNi/yr), and PT KPS (12 lines, 120,000 tNi/yr)—producing ferronickel for stainless steel. The limonitic ore (0.8%–1.2% nickel) is processed via two HPAL facilities—PT HPL (3 lines, 55,000 tNi-Co/yr) and PT ONC (3 lines, 65,000 tNi-Co/yr)—yielding MHP, which is further refined into nickel sulfate, cobalt sulfate, and electrolytic cobalt for lithium-ion battery supply chains. The platform encompasses both upstream mining operations and downstream processing across 11,000+ hectares of mining concessions.

Differentiator

Problem solved

Functional benefit

Products and services

• Saprolite Nickel Ore (Bijih Nikel Saprolit) High-grade laterite nickel ore typically containing 1.5%-3% nickel, extracted from the subsurface layer of the Obi Island concessions and sold for downstream processing via the pyrometallurgical RKEF method into ferro nickel for the stainless steel industry.
• Limonite Nickel Ore (Bijih Nikel Limonit) Low-grade laterite nickel ore containing 0.8%-1.2% nickel, extracted from near-surface layers of the Obi Island concessions and processed via HPAL technology into MHP, nickel sulfate, and cobalt sulfate for lithium-ion batteries.
• Ferro Nickel (FeNi / Feronikel) Intermediate nickel-iron alloy produced from saprolite ore using Rotary Kiln Electric Furnace (RKEF) technology across three smelters (PT MSP, PT HJF, PT KPS), serving as a key raw material input for stainless steel production.
• Mixed Hydroxide Precipitate (MHP) Intermediate nickel-cobalt mixed hydroxide product derived from limonite ore via High Pressure Acid Leach (HPAL) at PT HPL and PT ONC, serving as feedstock for further refinement into battery-grade materials.
• Nickel Sulfate (Nikel Sulfat) Refined nickel product produced from MHP via further processing, serving as a critical cathode precursor material for nickel-based lithium-ion batteries in electric vehicles.
• Cobalt Sulfate (Kobalt Sulfat) Refined cobalt product derived from MHP processing at the HPAL facilities, used as a cathode component in lithium-ion batteries for electric vehicles.
• Electrolytic Cobalt (Kobalt Elektrolitik) High-purity electrolytic cobalt produced from MHP, representing the most refined form of cobalt product for advanced battery applications.

Quantifiable outcome

• Nickel ore sales volume increased 28.8% to 30.59 million WMT in 2025
• +7 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

13 partnerships are on record, tiered core and minor.

• PT GDSKcoreChannel Partner/ Reseller/ DistributorPT GDSK is a catering vendor supplying food to Harita Nickel employees at Obi Island operations. It sources tofu and tempeh from community development programs such as RUTE (Rumah Tahu Tempe) and other local producers. Monthly demand reaches approximately 80,000 pieces of tofu and tempeh.
• PT AdencoreChannel Partner/ Reseller/ DistributorPT Aden is a catering vendor supplying food to Harita Nickel employees. Like PT GDSK, it sources processed food products from community programs including RUTE and local farmers, creating a local supply chain that supports community economic empowerment.
• Universitas Khairun TernateminorStrategic or Co-development PartnerUniversity partnership for academic collaboration. In 2024, Harita Nickel collaborated with Universitas Khairun in mangrove conservation efforts, planting 700 mangrove seedlings together as part of environmental rehabilitation programs.
• BKSDA Maluku (Balai Konservasi Sumber Daya Alam Maluku)minorStrategic or Co-development PartnerBKSDA Maluku is involved in the sago conservation area formation at Kawasi Village. The agency coordinates with local government, communities, and Harita Nickel in establishing and managing the conservation area under the Ministry of Forestry.
• Dinas Kesehatan Halmahera SelatanminorStrategic or Co-development PartnerHarita Nickel collaborates with the South Halmahera Health Office to provide PIRT (food business license) training for community groups supported by the company. This partnership strengthens food safety standards among local MSMEs.
• USAID SINARcoreStrategic or Co-development PartnerUSAID SINAR collaborated with Harita Nickel in developing its comprehensive decarbonization roadmap. The partnership involves climate experts and sustainable finance advisors to plan emissions reduction strategies.
• Climate Smart VenturescoreStrategic or Co-development PartnerClimate Smart Ventures co-developed Harita Nickel's decarbonization roadmap with USAID SINAR, providing expertise in climate-smart strategies for industrial operations in the nickel mining and processing sector.
• SCS Global ServicescoreImplementation/ SI/ Consulting PartnerSCS Global Services is conducting the independent IRMA (Initiative for Responsible Mining Assurance) audit of Harita Nickel's operations, covering over 400 criteria including environmental performance, human rights, occupational safety, and community engagement.
• Initiative for Responsible Mining Assurance (IRMA)coreImplementation/ SI/ Consulting PartnerIRMA is conducting the world's strictest third-party audit for responsible mining at Harita Nickel's Obi Island operations — the first Indonesian company to undergo this audit. Document review began November 2024; field audit conducted April 2025.
• Institut Teknologi Bandung (ITB)minorImplementation/ SI/ Consulting PartnerITB conducted independent assessment of Harita Nickel's water management systems, contributing to transparency and accountability in environmental reporting alongside media assessments by Tempo.
• Responsible Minerals Initiative (RMI)coreImplementation/ SI/ Consulting PartnerHarita Nickel is implementing Responsible Minerals Assurance Process (RMAP) certification through RMI to ensure responsible sourcing of minerals, addressing global buyer requirements for supply chain transparency and ESG compliance in the EV battery supply chain.
• Badan Usaha Milik Desa (BUMDes)minorStrategic or Co-development PartnerHarita Nickel partners with Village-Owned Enterprises (BUMDes) for waste management — companies provide transportation while BUMDes manages waste collection fees and financial bookkeeping. BUMDes generated Rp316 million in revenue in 2024 from waste management.
• 65 Local MSMEscoreChannel Partner/ Reseller/ Distributor65 local micro, small, and medium enterprises supply food products to Harita Nickel's employee canteens, generating Rp150 billion in transactions in 2024. This is a core component of Harita Nickel's local economic development strategy.

Scale indicators13 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Nickel Industries Limited: Australia-listed nickel producer with majority Indonesian operations including RKEF smelters producing FeNi and NPI. Most directly comparable to Harita Nickel given overlapping Indonesian footprint, RKEF technology, and product mix targeting stainless steel markets.
• Huayou Cobalt: Chinese battery materials producer with Indonesian nickel-cobalt projects (through partnerships) producing MHP and nickel sulfate. Direct competitor in the EV battery nickel sulfate supply chain and a likely customer for Indonesian MHP intermediates.
• Tsingshan Holding Group: Chinese stainless steel and nickel giant with major Indonesian operations (through joint ventures) producing NPI/FeNi. The dominant force in global nickel and stainless steel production and a key competitor for Indonesian RKEF market share.
• Sherritt International: Canadian miner using HPAL technology at its Moa JV in Cuba to produce nickel and cobalt. The most experienced global HPAL operator and a technology peer for Harita's HPAL operations at PT HPL and PT ONC.
• PT Merdeka Battery Materials (MBMA): Indonesian-listed nickel mining and processing company with HPAL operations producing MHP and nickel sulfate for EV batteries. Directly competes with Harita in the same HPAL-to-battery-chemicals value chain in Indonesia.

Broad incumbents

• Vale Indonesia: Major Indonesian nickel laterite miner (PT Vale Indonesia) producing matte for stainless steel and battery markets. A more established incumbent in Indonesian nickel mining with broader product portfolio and international parent backing.
• Eramet: French mining and metallurgical group with nickel operations (including the Weda Bay project in Indonesia through partnership with Tsingshan). A broader incumbent in global nickel production with diversified mining portfolio.
• BHP Group: Global diversified mining major with nickel operations (now divested to BHP's Nickel West). A broad incumbent in the metal mining sector with exposure to battery materials and stainless steel markets.
• POSCO Holdings: Korean steelmaker with integrated nickel refining capacity and battery materials operations. Both a major customer of Indonesian nickel (FeNi) and a competitor in downstream battery materials.

Emerging players

• GEM Co. Chinese battery materials recycler and nickel/cobalt chemical producer. Comparable as a downstream nickel sulfate/cobalt sulfate supplier to EV battery makers, though focused on recycled feedstocks rather than primary mining.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/NickelHarita
• LinkedInlinkedin.com/company/harita-group
• Instagraminstagram.com/harita.nickel
• Xx.com/HaritaNickel

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Harita Nickel