PT Vale reports higher production and sales in the second quarter of 2017

7/27/2017

PT Vale reports higher production and sales in the second quarter of 2017


PT Vale reports higher production and sales in the second quarter of 2017

PT Vale Indonesia Tbk (“PT Vale” or the “Company”, IDX Ticker: INCO) today announced its unaudited results for the second quarter of 2017 (“2Q17”).

“Nickel matte revenue was about 3% higher in 2Q17 than in 1Q17, despite a lower average realized price in 2Q17” reported Nico Kanter, CEO and President Director of the Company.

More than ever, we realize the importance of remaining focused on improving efficiency and reducing costs,”


Nico Kanter

The cost of revenue per metric ton of nickel matte sold in 2Q17 is 2% lower than 1Q17, excluding the provision for decline in inventory value, which increased by US$8.1 million compared to 1Q17. The decline in the cost of revenue per metric ton of nickel matte sold was driven mainly by reductions in supplies and employment costs of 11% and 17% respectively; while production increased.

2Q17 Highlight

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PT Vale reports higher production and sales in the second quarter of 2017