Vale Boss Optimistic Production Target Of 70,800 Tons Of Nickel Achieved This Year

President Director of PT Vale Indonesia Tbk (INCO) Febriany Eddy (Instagram @febriany.eddy)

JAKARTA - President Director of PT Vale Indonesia Tbk (INCO) Febriany Eddy admitted that he believes that the director of the nickel production target by 2024 can reach the target of 70,900 tons by the end of the year.

Febriany said that so far INCO nickel production has been running well according to the company's plan. Until the first semester of 2024, Vale recorded nickel production reaching 34,800 tons.

"This is about our target and we are now on track and are quite sure to be able to deliver our annual target at 70,800," he said in the Mining Zone quoted on Saturday, August 24.

Furthermore, Febriany said that currently his company continues to make various efforts to manage the nickel production process to continue effectively amid fluctuations in nickel prices. One of the steps taken is by collaborating with all departments in PT Vale.

"Cost Discipline has become part of our daily lives. Because nickel has always been, yes, this is a commodity that is very volatile. So that Cost Discipline and Agility to adjust to price conditions are very important," he said.

On the other hand, Vale continued, it also performs production efficiency through plant shutdown or temporary suspension of factory operations and additional naturally dried ore stocks.

Meanwhile, regarding the fluctuation in nickel prices, Febriany said, his party was aware of the fluctuations in nickel prices throughout 2024. He gave an example in May, the world's nickel price had penetrated 20,000 US dollars per tonne and is currently gradually decreasing again.

"Of course, as a commodity company for our prices, our selling price follows a formula linking the world's nickel price. So of course it is very sensitive, the change in world nickel prices will affect our income and performance," continued Febriany.

However, he admitted that his party still believed that the world's nickel price could not be controlled by the company.

"Indeed, we cannot control it because it follows world prices, but we can control costs. So our focus always is on how to produce efficiently and effectively," he concluded.