Ceria Corp.
The Clean Energy Supply Chain for a Low-Carbon Future

The future of clean energy starts with critical minerals. Demand for high-grade nickel and cobalt is soaring as the world races to electrify transportation, scale up renewables, and store energy more efficiently. But tomorrow’s technologies can’t run on yesterday’s supply chains. They need metals that are ethically sourced, low in carbon and fully traceable. Meeting this challenge requires a new generation of mineral producers—those who pair industrial strength with environmental responsibility.

Ceria Corp. is rising to that challenge. With the high-potential mineral reserve and resources in Ceria’s mining concession in Southeast Sulawesi Province, Indonesia, it integrates clean technology, responsible mining and globally aligned ESG practices to deliver high-grade nickel and cobalt to advanced markets. Its materials are used in electric vehicles, stainless steel and clean energy systems, supporting key pillars of the global energy transition while raising the bar for sustainability across the mineral value chain.

Ceria produces high-grade nickel ore and low-carbon ferronickel primarily for the electric vehicle battery and stainless steel industries. From its 6,785-hectare laterite tenement in Kolaka Regency, it processes nickel through in-house smelting and pyrometallurgical facilities.

“Our mission goes beyond mining. We are building a sustainable ecosystem where Indonesia’s natural resources drive global innovation while creating lasting value for our people and the planet,” says Imelda Kiagoes, Corporate Secretary.

It is evolving into a fully integrated, closed-loop platform for critical minerals, spanning mining, refining, and future recycling of nickel, cobalt and other essential inputs. Designed to serve multiple industries beyond batteries, this model keeps more of the value chain within Indonesia. That enhances national industrial capabilities, reduces dependence on raw ore exports, and ensures its low-carbon materials contribute meaningfully to global decarbonization efforts.

Powering Global Markets with Premium, Low-Carbon Ferronickel

In April 2025, Ceria commenced production at its Rotary Kiln Electric Furnace (RKEF) smelter, a major step in its transition to an end-to-end nickel producer. With a capacity of 72 MVA, the facility yields 63,200 tons of ferronickel annually, featuring a nickel grade of 22 percent, which is significantly higher than the 11–15 percent grades.

Combined with its exceptionally low carbon content of just 0.07 percent, Ceria’s ferronickel meets the stringent requirements of premium markets in the U.S., Europe, Japan and South Korea. This milestone builds on the steady growth it has experienced since it began nickel production in 2017.

In response to Indonesia’s 2020 export ban on raw nickel ore, it pivoted to supplying the domestic market with high-grade saprolite and limonite. Its saprolite ore, with a 1.59 percent nickel content, continues to be in strong demand at major processing hubs, including those in the Maluku region.

A Holistic Sustainability Model

Distinguishing Ceria is its low-carbon energy profile. It operates without coal-fired power, relying instead on renewable energy. More than 90 percent of its energy needs are met with hydropower, supplemented by wind and natural gas. These sources are validated under Indonesia’s Renewable Energy Certificate (REC) system and recognized globally through the Tradable Instruments for Global Renewables (TIGRs) renewable energy standard.

Ceria’s commitment to efficiency is reflected in the latest technology design of its Rotary Kiln Electric Furnace (RKEF). Designed with the latest technology of rectangular furnace, which is more durable and energy-efficient than traditional cylindrical models. It enables higher nickel recovery, extended operational life and reduced maintenance. The system uses advanced heat exchanger technology to maximize energy use while minimizing carbon emissions.

To further enhance energy security and sustainability, PLN, as a State Electricity Company, through its subsidiary, built a 2 x 60 MW Barge Mounted Power Plant (BMPP). The one unit of 60 MW is located at the Ceria special terminal in the concession area. This includes a barge-mounted LNG terminal with regasification facilities and new gas engine power plants, underscoring Ceria’s long-term commitment to clean, reliable power.

Restoring Landscapes and Empowering Communities

Sustainability is embedded in the core of Ceria’s operations through strategic initiatives in land rehabilitation, carbon reduction and community engagement. Its ongoing revegetation and reclamation activities comply with regulatory mandates and are supported by an in-house nursery, which will be expanded to six hectares to meet future planting needs.

Mangrove reforestation is a key pillar of its environmental strategy. Mangroves sequester carbon and heavy metals while fortifying coastal ecosystems. Ceria involves local communities in planting, sourcing seedlings from residents and promoting mangrove cultivation near their coastal homes, creating both ecological and socioeconomic value.

To mitigate environmental risks from mining runoff, the company constructs sediment ponds alongside mining pits, ensuring water is safely contained and does not affect surrounding communities.

Ceria is pursuing Initiative for Responsible Mining Assurance (IRMA) certification. Since 2023, it has worked with ERM consultants to conduct a gap analysis and develop a detailed implementation roadmap. It aims to register for IRMA Transparency around early 2026 with the target to be IRMA 50 compliant. This certification effort includes comprehensive reviews of biodiversity management, Indigenous rights, cultural heritage, human rights screening, and public health impact, all underpinned by a life-cycle assessment of its mining operations.

Sustainability at Ceria extends to its people. Over 65 percent of its workforce is drawn from the local Southeast Sulawesi population. A six-pillar community model—spanning education, health, economic, social-culture, environment, and infrastructure— has transformed the quality of life in Wolo Subdistrict, Kolaka Regency. Value is delivered beyond the mine by embedding local capacity-building into its growth strategy.

A clear commitment to environmental integrity and social value creation defines its approach to mining sustainability. Ceria’s mining sites stand out for their structured layouts and visible rehabilitation efforts, far removed from traditional open-pit mining operations.

Building the EV Supply Chain of the Future

To meet the rising global demand for battery-grade materials and further strengthen downstream integration, Ceria is investing in large-scale green processing capacity.

It is developing a High-Pressure Acid Leach (HPAL) facility capable of producing 146,600 tons of Mixed Hydroxide Precipitate (MHP) annually, equivalent to 55,600 tons of nickel metal and 5,700 tons of cobalt metal. The facility is being engineered as a green HPAL, expected to emit just 12 to 18 tons of CO2 equivalent per ton of nickel, less than half the emissions from conventional HPAL designs, which typically range between 42 to 48 tons and a dry stack tailing facilities.

The HPAL project represents a capital investment of approximately $2.3 billion. Ceria is planning to fund the project by collaborating with international strategic investors.

To ensure the project meets international benchmarks, Ceria has engaged several respected world-class consultants. The due diligence process, initiated in 2023, is nearing completion, with construction of the HPAL facility targeted to begin by the end of 2025 or early 2026.

Ceria plans to expand into cobalt refining, battery-grade materials, and battery recycling through specialized subsidiaries, further reinforcing its position in the electric mobility and clean energy supply chain. Its vision extends further into nickel matte refining and cobalt-nickel sulfate production, reinforcing Indonesia’s global dominance in nickel supply and its role in powering the worldwide energy transition.

As a 100 percent Indonesian-owned nickel player with no equity involvement by “Non-Foreign Entity of Concern,” Ceria has also been designated as a National Strategic Project and National Vital Object. To support the positioning of the new US One Big Beautiful Bill Act for foreign ownership and sourcing requirements eligibility for the tax credit, underscoring Ceria’s role as a trusted partner in secure, ethical supply chain. Its energy sources coming from green power and clean energy with the technology of green construction and a robust pipeline of growth projects, have drawn interest from the European and US market, offering a rare combination of traceable low-carbon products and verified ESG alignment.

As geopolitical competition intensifies over critical minerals, Ceria Corp. is positioned to offer secure, high-quality alternatives to traditional supply routes.