PT Merdeka Battery Materials Tbk (IDX: MBMA) operates integrated nickel mining and processing facilities that support Indonesia’s electric vehicle battery materials supply chain.
Since its initial public offering on the Indonesia Stock Exchange in 2023, MBMA has continued to grow as an integrated battery materials company with operations spanning mining, processing, and downstream material production for the electric vehicle industry.
MBMA’s key advantage lies in its secured raw material supply sourced from nickel mine operated by its subsidiary PT Sulawesi Cahaya Mineral (SCM Mine) in Konawe, Southeast Sulawesi. The SCM Mine holds Ore Reserves of 578.8 million wet metric tonnes (wmt), containing approximately 4.4 million tonnes of nickel and 0.3 million tonnes of cobalt, as part of total Mineral Resources of 1,549.3 million wmt containing approximately 11.8 million tonnes of nickel and 0.81 million tonnes of cobalt. With a concession area of approximately 21,100 hectares, SCM serves as a long-term strategic asset supporting sustainable ore supply across MBMA’s entire value chain.
The SCM Mine supplies two primary ore types: saprolite and limonite. Saprolite ore is supplied to Rotary Kiln Electric Furnace (RKEF) facilities at Indonesia Morowali Industrial Park (IMIP), Central Sulawesi, where it is processed into Nickel Pig Iron (NPI). Part of the NPI is subsequently converted into High-Grade Nickel Natte (HGNM) at PT Huaneng Metal Industry (HNMI), a nickel converter facility acquired by MBMA in 2023.
Meanwhile, limonite ore is processed through an integrated Feed Preparation Plant (FPP) before being transported via slurry pipeline to High Pressure Acid Leach (HPAL) facilities at IMIP. This integrated infrastructure enhances raw material supply stability while creating significant transportation cost efficiencies.
MBMA is also developing several HPAL facilities to produce Mixed Hydroxide Precipitate (MHP), a key raw material in the electric vehicle battery supply chain. In partnership with GEM Co., MBMA operates PT ESG New Energy Material (ESG) and PT Meiming New Energy Material (Meiming). Throughout 2025, ESG produced 25,994 tonnes of nickel in the form of MHP, while Meiming commenced operations and transitioned to the new FPP located within the SCM Mine area since the fourth quarter of 2025.
MBMA is also developing a third HPAL facility through PT Sulawesi Nickel Cobalt (SLNC), with a design capacity of 90,000 tonnes of nickel in the form of MHP per year. The facility is currently under construction and is targeted to begin initial commissioning in mid-2026.
Beyond its nickel business, MBMA also holds a majority stake in PT Merdeka Tsingshan Indonesia (MTI), which operates the AIM (Acid, Iron, Metal) Plant at IMIP. The facility is designed to process approximately 1 million tonnes of pyrite ore annually from the Wetar Copper Mine, owned by MBMA’s parent company, PT Merdeka Copper Gold Tbk (IDX: MDKA), as part of mineral optimization and resource efficiency initiatives.
The AIM Plant consists of four integrated core units: the Pyrite Plant, Acid Plant, Chloride Plant, and Copper Cathode Plant. These facilities produce various value-added products, including sulfuric acid to support HPAL operations, iron ore pellets, gypsum, lead-zinc hydroxide, copper cathodes, as well as gold and silver doré.
Through the integration of operations from mining to downstream processing facilities within the Merdeka Group, MBMA continues to strengthen its position as one of Indonesia’s integrated electric vehicle battery materials companies, with a focus on operational efficiency, supply chain resilience, and downstream mineral development.
