Vale Indonesia maintains output target

By Tri Subhki R

IDX-listed nickel producer PT Vale Indonesia Tbk (INCO) said it will maintain its nickel in matte production target of 80,000 metric tons this year despite the current drop in the price of the commodity.

In the first half of 2015, the company?s nickel in matte production was 36,727 metric tons.

?We do not revise the production target of nickel in matte for this year,? Vale Chief Financial Officer (CFO) Febriany said to Petromindo.com recently. She is confident that the company will meet the guidance target of the year.

In the second quarter of the year, Vale produced 19,251 metric tons or 10 percent higher than the previous quarter of 17,476 metric tons. However, the average realized price in the second quarter was US$10,405 per metric tons or 11 percent lower than $11,745 per metric tons.

Vale achieved the highest-ever nickel in matte production of 78,727 metric tons in 2014, surpassing the previous record of 76,727 metric tons in 2007.

Editing by Reiner Simanjuntak