Vale Q3 output up 5.9% from last year's
Thursday, October 18 2012 - 08:23 AM WIB
IDX-listed nickel producer PT Vale Indonesia Tbk recently stated that finished nickel production in the third quarter of this year from Sorowako reaches 17,000 tons.
"This was in line with 2Q12, and 5.9% higher than 3Q11," the company said.
Production of its nickel previously reached 16,563 tons nickel in matte in the second quarter of this year, increased around 33 percent compared to 12,431 tons in Q1.
However, production and sales volumes in the first half of this year were 17% and 18% lower each quarter respectively compared to results of the first half of 2011.
The average realized price for the second quarter of 2012 was US$13,816 per ton, which was 11 percent lower than the 1Q12 average realized price.
A subsidiary of Vale, the world's second biggest mining company headquartered in Brazil, PT Vale Indonesia Tbk was established in 1968, formerly known as PT International Nickel Indonesia.
Editing by Er Audy Zandri