JAKARTA - PT Vale Indonesia Tbk (INCO) recorded a profit of US$ 82.8 million throughout 2020, grew compared to the same period in 2019 (US$ 57.4 million), triggered by an increase in production and efficiency from a decrease in fuel prices.
In a press release quoted on Friday (26/2), Nico Kanter, President Director of PT Vale Indonesia Tbk (INCO), said that nickel in matte production was 72,237 metric tonnes, increased from 71,025 metric tonnes in 2019. "Nickel matte sales volume increased to 72,846 metric tonnes from 72,044 metric tonnes," he said.
Even so, INCO's revenue decreased 2% from US$ 782 million (2019) to US $ 764.7 million (2020). This was triggered by a decrease in the realised price of nickel matte shipments from US$ 10,855 per tonne (2019) to US $ 10,498 per tonne (2020).
The company was able to reduce the cost of goods by reducing the cost of revenue; such as, the price of coal fuel fell from US$ 119.49 per tonne (2019) to US $ 98.83 per ton (2020), high sulphur fuel oil from US$ 65.41 per barrel (2019) to US $ 42.02 per barrel (2020), and diesel fuel from US$ 0.57 per litre (2019) to US $ 0.39 per litre (2020). (LK/AC)