High nickel prices buoy mining companies fundamentals

Big publicly-listed nickel miners and an equipment supplier saw their fundamentals improve this year, making up for losses from the previous year, amid surging global nickel prices. PT Vale Indonesia, the top nickel matte producer in Indonesia, saw its net profit rise 10.6 percent year-on-year (yoy) to US$58.7 million in the first half of this year, according to its latest financial report. The company, listed at the Indonesia Stock Exchange (IDX) as INCO, booked $414.9 million in revenue in the first half of this year, up 15 percent yoy from $360.4 million, even though its nickel matte production dropped 17 percent yoy to 30,246 ton because of repairs on its smelter facility. The company expects to produce about 64,000 tons of nickel matte this year, down from 72,237 tons in 2020. We hope that the production increase, cost control and project… to Read Full Story https://www.thejakartapost.com/news/2021/09/13/high-nickel-prices-buoy-mining-companies-fundamentals.html