31
Oct
02:22
Vale Indonesia's earnings fall on lower nickel price
Vale Indonesia, the Indonesian subsidiary of Brazilian miner Vale, has reported lower earnings in the third quarter due to lower average realised nickel prices, Kallanish learns.
The company achieved earnings of $52.6 million in the third quarter, representing a decrease compared to the $70.4 million achieved in the second quarter. Q3 revenue also declined to $278.9m, from $295.8m in the previous quarter, after a 6% drop in prices to average $16,204/tonne.
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