PT Vale Indonesia Exceeds 2024 Production Target, Reports Strong Financial Performance

February 28, 2025

PT Vale Indonesia announced that its 2024 nickel production reached 71,311 metric tons, surpassing its annual target of 70,805 metric tons and exceeding the previous year’s output of 70,728 metric tons.

Sales volume for 2024 increased to 72,625 metric tons, reflecting a 2% rise compared to 2023 and an 8% quarterly increase in Q4 2024 compared to Q3 2024.

“The higher nickel matte sales volume in Q4 2024 contributed to the company’s EBITDA of US$54.1 million for the quarter, a 15% increase from the previous quarter. On an annualized basis, our EBITDA remains strong at US$225.9 million,” said Febriany Eddy, CEO and President Director of PT Vale Indonesia.

Despite challenges related to one-time costs from the separation process following Vale Base Metal’s divestment, the company maintained its cash cost of sales per unit at a competitive level of US$9,374 per ton in 2024. This represents the lowest cash cost in three years, improving from US$10,034 per ton in 2023 and US$11,201 per ton in 2022.

“This achievement is a result of higher production volumes and continued cost-saving initiatives,” Eddy added.