PT Vale reports higher production volume
Saturday, April 22 2017 - 05:05 AM WIB
Petromindo|Khalsa
IDX-listed integrated nickel mining firm PT Vale Indonesia Tbk said that in the first quarter of 2017 (1Q17) it produced 17,224 metric tons of nickel in matte, higher than 16,894 tons in the first quarter of last year.
?Production in the first quarter of 2017 was lower than production in 4Q16 as a result of planned maintenance activities,? said Nico Kanter, CEO and President Director of PT Vale in a statement on Thursday. ?However, it was higher than production in the first quarter of last year. We remain optimistic of meeting our 2017 full year production target of approximately 80,000 tons.? In the fourth quarter of last year, production stood at 19,581 tons.
The first quarter 2017 production volume was about 12 percent lower than the production volume realized in 4Q16, but 2 percent higher than 1Q16, the company said.
Editing by Reiner Simanjuntak