Vale Records Nickel Production of 16,153 Tons in the Second Quarter of 2026

Illustration. (Photo: Dok. Antara)

JAKARTA - PT Vale Indonesia Tbk (INCO) recorded an increase in nickel production in the second quarter of 2026, namely 16,153 tons.

This figure increased by 19 percent compared to the previous quarter which was recorded at 13,620 tons.

However, the total production performance in the first semester of 2026 decreased to 29,773 tons from the same period last year (yoy) which was recorded at 35,584 tons.

In a statement to the media, INCO management said that the increase in production in the second quarter was supported by the completion of the reconstruction of Tanur Listrik 3 in June 2026.

"The Company remains on track to achieve its annual production target, and is well positioned to capitalize on the favorable nickel market fundamentals," management wrote, quoted Thursday, July 20.

In addition to matte nickel production, PT Vale continues to strengthen its growth platform through the operation of three mining hubs in Sorowako, Bahodopi, and Pomalaa, which mark an important milestone in the transformation of the Company.

This strategic expansion resulted in significant growth in nickel ore production and sales volumes. In the second quarter, Bahodopi Block recorded sales of 1.07 million wet metric tons (wmt) of nickel saprolite ore, up from 886,000 wmt in the previous quarter, bringing total sales volumes in the first half to 1.96 million wmt.

Meanwhile, the Pomalaa Block recorded a significant increase in nickel ore sales to 496,000 wmt in 2Q26, compared to 89,000 wmt in 1Q26, so that the cumulative sales volume in the first half reached 585,000 wmt.

"The strong performance of both growth projects shows the success of increasing operating capacity and strengthening PT Vale's strategy to diversify its revenue sources," continued management.

In terms of revenue, INCO got a fresh wind from increased production, strengthening nickel prices, and disciplined operational implementation.

Matte nickel production increased 19 percent quarter-on-quarter (QoQ) to 16,153 tons, while sales volume remained stable at 13,932 tons.

The Company benefited from an increase in the average realized nickel matte price to US$14,765 per ton, an increase of 4 percent QoQ, which also contributed to revenue reaching US$290 million or an increase of 15 percent compared to the previous quarter.

In terms of costs, the cost of cash sales of matte nickel remained competitive at the level of 10,005 US dollars per ton in the second quarter, improving compared to 10,382 US dollars per ton in the previous quarter.