Ticker: INCO) today announced its unaudited results for the first quarter of 2015
(1Q15). Revenue for the quarter was US$211.9 million after realized price for the
respective quarter dropped by 9% from previous quarter.
"In the first quarter of 2015 we continued to witness further nickel price decline
from level achieved in the 4Q14," said Nico Kanter, CEO and President Director of
the Company. "Nevertheless we decided to continue production and later in the
quarter we performed several maintenance plans to benefitting low nickel price
environment."
That maintenance affected PT Vale's nickel in matte production which decreased by
15% from 4Q14 production. However the Company still maintain its full year
production plan of around 80,000 metric tons (t) for 2015.
At the same time PT Vale continued to control its costs prudently. The cost of
revenue for 1Q15 was 14% lower than the cost of revenue incurred in the previous
quarter, in line with the sales volume decrease. Lower fuel, lubricants and supplies
lead to that favourable cost of revenue decline. This reflects cost discipline and
operating productivity at PT Vale.
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