In 1962 BPU Pertambun, PT Pertambangan Nickel Indonesia and Sulawesi Nickel Development Corp formed a joint venture to start the mine. In 1968 the venture was consolidated and placed under the control and ownership of PN Aneka Tambang, becoming PT Aneka Tambang in 1974. From 1976, some of the Pomalaa mine feed was sent to a newly built smelter/refinery complex. Development of a coal fired power plant at the site commenced and was stated as being 21% complete by mid 2012. Total capital costs to modernise and optimise Pomalaa are currently estimated at between US$450-500M.