PT IFISHDECO TBK, Ticker: (IFSH.JK) is an IDX listed vertically integrated nickel mining company on the Indonesia Stock Exchange. IFSH is headquartered in Wisma Nugra Santana, Jalan Jend Sudirman, Kav 7-8, Jakarta, Indonesia and has a branch office located in Kendari, Southeast Sulawesi, Indonesia.
IFSH was establish on 9 June 1971 in the fisheries industry, based on the Company Act No.41, incorporated by Abdul Latif, Notary in Jakarta. In 1989, IFSH included agribusiness plantation to its business activities, based on the Company Act No.34, incorporated by Mochtar Apan, S.H, Notary in Jakarta. Since then, IFSH develop the agribusiness by planting cashew trees to produce cashew nuts for processing, however IFSH achieved little success with inconsistent yields. Between 2005 to 2008, IFSH conducted topography and soil test surveys to increase the plantation area for cashews trees. From the results of the surveys conducted, IFSH discovered that the plantation land was rich in mineral content for Nickel (Ni) and Iron (Fe). From this discovery,
IFSH adjusted the company’s business plan and submitted an application for Izin Usaha Pertambangan IUP Eksplorasi or Mining Business Permit for Exploration in 2008. In 2010, IFSH upgraded the license to IUP Operasi/Produksi or Mining Business Permit for Operation and Production, and the company started production and sales in 2011.
IFSH is a vertically integrated nickel mining and smelting company that caters to both international and domestic clients. IFSH undertakes all activities from mining exploration, development, production, transportation, trading and sales of nickel ore. Furthermore, IFSH’s subsidiary company PT Bintang Smelter Indonesia (BSI) undertakes the processing, transportation, trading and sales of Nickel Pig Iron (NPI) and Ferronickel Alloy (FeNi)
IFSH concession land is located in Tinanggea, South Konawe Regency, Southeast Sulawesi. The total land area owned by IFSH is 2,580 Hectares and IUP Operasi/Produksi or Mining Business Permit for Operation and Production is for 800 Hectares.
In addition, BSI has a land area of 70 hectares in the 2,580 Hectares owned by IFSH with the necessary permits for the Operation and Production of Nickel Processing Smelter.
The potential nickel area of Company’s Business Mining Permit for 800 Ha and about 300 Ha has been mined and cleared ( area for mining business permit) but no mining activities done as yet.) for 177 Ha (for North mining area of 84 Ha, while the South mining area of 93 Ha The area which has not been mined of the Business Mining Permit is at 123 Ha. For the area where reclamation had been done, it is totally 26 Ha (for the North area 3,86 Ha and the South area circa 22 Ha). The area which no reclamation had been done is an area of 251,87 Ha.
In carrying out business activities, Company performs the process of exploration, mining, and nickel ore marketing. Nickel ore is a residual earth form metal element. The nature of nickel is that it is stainless making it a metal commodity which is very much needed in today’s modern civilization and as raw material in production.
Momentarily Company is concentrating on the development of mining and managing mining which is running for the domestic marketing and export purposes. 112 Company is also selling nickel ore to Branch Company.
For next, Branch Company will carry out the nickel ore purifying processing for producing Nickel Pig Iron (NPI). NPI is a metal wrought iron which consist of Nickel (Ni) around 2 – 10% which is the product of the smelting of nickel ore low degree below 1.8% Ni (limonit).
NPI in general is used as raw material in the making of stainless steel. In the year 2018, Branch Company was operating 2 blast furnace machines to produce NPI mentioned
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