Vale Nickel output shrinks during H1 2016

INDONESIA July 26 2016 6:20 PM     

JAKARTA (Scrap Register): Nickel production of Vale  Indonesia has seen a slight decline in the first six months of this year  compared to the same period last year. Nickel production declined 1.2 percent to  36256 metric tons compared to 36727 tons same period last year, the company  said. That accounted for 45 percent of the company's production target this year  of 80,000 metric tons.

The company is still holding the fact that its  second quarter production increased by 15 percent from the first quarter of this  year. A local unit of Brazil mining giant vale produced about 81777 metric tons  of nickle in 2015, and since then demand for nickel is been falling. Company set  aside a capital expenditure of $90 million to $100 million, down from last  year's $106 million.