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Vale Indonesia lowers 2019 nickel production target

16 April 2019 08:07 AM  Company: PT. Vale Indonesia Tbk[INCO]
Rp. 3,150  -130 (-3.96%)

JAKARTA - PT Vale Indonesia Tbk (INCO) has revised its 2019 nickel production target from 76,000 tonnes to 70,000-72,000 tonnes. The revision is in line with the maintenance of the Larona Canal Relining, which caused production drop in the first quarter of 2019.

INCO Chief Financial Officer Bernardus Irmanto explained that with the revised production target, the company is projected to produce 17,500-18,000 metric tonnes of nickel every quarter. However, production realisation only reached 13,080 metric tonnes in the first three months this year.

“We conducted maintenance on the Larona Canal Relining for 10 weeks, which affected production drop. The maintenance lasted until the second week of April,” said Mr Irmanto as quoted by, Monday (15/4).

Mr Irmanto added that after the completion of the Larona Canal Relining maintenance production in the next quarter will be higher. To achieve its target, INCO will seek production of 19,000-20,000 metric tonnes in the third and fourth quarters of 2019. (MS)

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PT. Vale Indonesia Tbk [INCO]   Rp. 3,150   -130 (-3.96%)