PT Vale Indonesia Tbk (“PT Vale” or the “Company”, IDX Ticker: INCO) and its subsidiaries (jointly the “Group”) today announced its unaudited results for the first quarter of 2022 (“1Q22”). The Company booked strong net profit of US$67.6 million, 58% higher than the previous quarter number. It was mainly driven by the favourable nickel price.

I am pleased to report a profitable 1Q22. Despite lower production due to the ongoing furnace 4 rebuild, we were able to deliver higher EBITDA, higher profit and higher cash balance compared to the previous quarter. The strong cash balance will enable us to undertake our current and future growth plans,

Febriany Eddy, CEO and President Director

The Company will continue to maintain its focus on improving productivity and cost efficiency to sustain competitiveness in the long term without compromising its foremost values: Life Matters Most, Respect Our Planet and Communities.

Further detail of the release is available in the link below:

1Q22 Results Release 1Q22 Production Report PT Vale Indonesia Tbk Financial Statements 3M22