Our Portfolio
Provident has built businesses across a variety of industries, including telecommunications, infrastructure, technology, mining, biomass, plantations and oil & gas.
Our Portfolio
What We Do
Mining & Energy Transition
Provident has built businesses across a variety of industries, including infrastructure, mining, energy transition, technology and renewables. Provident’s businesses are currently mostly concentrated in Indonesia.
Merdeka Copper Gold
Merdeka Copper Gold (MDKA) is a leading Indonesian metal and mineral mining holding company which explores, extracts, and produces gold, silver, copper, and other minerals.
• Founded by Provident in 2012 and listed on the Indonesian Stock Exchange in 2015.
• Market capitalisation: USD3.6 billion (June 2024)
• As of 31 December 2023, MDKA has a group mineral resource of 36.4Moz of gold, 8.5Mt of copper, 13.8Mt of nickel and 1.0Mt of cobalt (owned by its listed subsidiary, Merdeka Battery Materials)
• Manages two operational assets:
- Tujuh Bukit Gold Mine in East Java
- Wetar Copper Mine in Southwest Maluku
• Developing two world-class projects:
- Tujuh Bukit Copper Project in East Java, one of the largest pre-production copper projects
- Pani Gold Project in Sulawesi, which will become one of the major primary gold mines in Indonesia
• Rated “A” by MSCI ESG Rating, highest rating received by an Indonesian metals and mining company
Merdeka Battery Materials
Merdeka Battery Materials (MBMA) operates high-quality nickel assets and processing facilities in the EV battery value chain.
• Founded by Provident in 2019 and listed on the Indonesian Stock Exchange in 2023
• Market capitalisation: USD4.2 billion (June 2024)
• Established strategic partnerships with leading battery materials companies, including CATL, GEM and Huayou Cobalt
• MBMA’s key assets include:
- SCM mine – the largest limonite nickel resource in the world with 13.8Mt of nickel and 1.0Mt of cobalt
- High pressure acid leach (HPAL) processing plants - produces precursor material to the EV battery industry
- Rotary kiln electric furnace processing plants – produces nickel pig iron, a key ingredient in stainless steel
- Nickel matte conversion facility – produces high-grade nickel matte, a key feedstock for battery precursors
- Acid iron metal plant – produces multiple products including acid and steam for use in the HPAL plants
