JAKARTA (Yosefardi) – Nickel miner PT Vale Indonesia Tbk (INCO) booked earnings of US$38.7 million in 2013, dropped 43% from US$67.5 million in 2012.
Revenue also declined 4.7% to US$921.6 million from previous US$967.3 million. It produced 75,802 tons of nickel in matte in 2013, higher than 70,717 tons in 2012. But average realized nickel price declined 12% to US$11,939 per metric ton from earlier US$13,552.
The increase in production was driven by the realization of its enchanced smelting capacity and production process optimization.
Other expenses also increased to US$57.17 million from earlier US$47.75 million. Operating profit was US$70.14 million (2012: Rp106.91 million).
Vale Indonesia plans to continue to leverage its enchanced smelting capacity and process optimization in 2014 and plans to produce 5% more nickel in matte or around 79,600 tons.
Its assets totaled US$2.28 billion while liability amounted US$566.85 million. The company has cash and cash equivalent of US$200.02 million.