PT Vale Indonesia Reports Decline in Nickel Production and Sales, First Saprolite Ore Sale

Published: May 1, 2025 00:43

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PT Vale Indonesia Tbk (IDX: INCO) reported a nickel in matte production of 17,027 metric tons in the first quarter of 2025, marking a 6% year-on-year decline and an 8% decrease compared to the previous quarter. The drop was primarily due to an unexpected shutdown of one of its electric furnaces caused by an electrode system failure. The company used this unplanned downtime to carry out maintenance originally scheduled for the third quarter, aiming to optimize future operations.

During the quarter, the company shipped a total of 17,096 metric tons of nickel in matte, generating sales of USD 206.5 million—down from USD 241.8 million in Q4 2024—mainly due to lower shipment volume and a 5% decrease in the average nickel price, which fell to USD 11,932 per ton.

Additionally, PT Vale Indonesia made its first commercial sale of approximately 80,000 tons of saprolite ore to domestic buyers and plans to gradually increase sales to 290,000 tons in the first half of 2025, following the approval of its annual Work and Budget Plan (RKAB) at the end of last year.

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