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Vale Indonesia revises production below target in 2018

16 October 2018 05:46 AM  Company: PT. Vale Indonesia Tbk[INCO]
Rp. 2,540  +70 (2.83%)

JAKARTA - PT Vale Indonesia Tbk (INCO) revised its provision target of 77,000 tonnes in matte to 75,000 tonnes in matte by the end of 2018. The revision is below the production target as a result of planned maintenance activities aimed at safe operations. In the third quarter of 2018, the company recorded a production of 18,193 tonnes of nickel in matte, down from  20,163 tons of nickel in the same period in 2017.

Chris Kanter, CEO and President Director of PT Vale Indonesia Tbk (INCO) said the realisation of production in the third quarter was below the target. "This condition is affected by operating problems that need to be maintained so that it remains safe to work," he said as quoted from the press release.

According to him, by maintaining the moving schedule from the fourth quarter to the third quarter of 2018, the company does not expect additional large maintenance activities until the end of the year. During the first nine months of 2018, nickel production was 54,227 tomnes, lower than 57,494 tonnes in the same period in 2017. (LK)

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PT. Vale Indonesia Tbk [INCO]   Rp. 2,540   +70 (2.83%)