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ISSUER - JAKARTA. PT Vale Indonesia Tbk (INCO) is boosting its nickel production in matte throughout 2023. INCO realized a production achievement of 70,728 Metric Tons (MT) of nickel, an increase of 18% compared to 2022's 60,090 MT.
February Eddy, CEO and President Director of INCO said that despite facing various challenges throughout the year, they managed to exceed the production target for 2023.
“We are very grateful for this achievement. Of course, it is proof of the dedication, commitment, and high spirit of collaboration from all employees in the company,” he said in an official statement, Tuesday (30/1).
Citing data presented in his official statement, INCO recorded production of 19,084 metric tons of nickel in matte in the fourth quarter of 2023 (October-December), 6% higher than the third quarter of 2023 (July-September) which was 17,953 MT.
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February stated that this production increase is the result of effective maintenance strategies and improved performance in the mining and processing plant areas throughout the year.
In 2024, INCO estimates nickel matte production to be around 70,000 tons.
Previously, Vale Indonesia's Chief Financial Officer Bernardus Irmanto, mentioned two factors that make the 2024 production tend to be the same as 2023.
First, the factor of mining equipment maintenance level, where this year the number of days used for equipment maintenance will increase. Of course, this will affect the availability of mining production equipment.
Second, the production level also considers the grade of nickel in the mining area which affects the output.
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“If normalized, we have the opportunity to produce higher. However, with these 2 factors, the feasible production level is at the 70,000-ton level,” Irmanto explained in a public presentation held on Wednesday (29/11).
Irmanto claimed, they are striving for optimal equipment maintenance so that the utilization level of the equipment becomes high, which impacts the increase in production in the coming year. INCO is also striving to be able to obtain nickel ore with a better grade so that the production output becomes better.
