Vale Indonesia Profit Surges 175 Percent in First 9 Months
A worker processes nickel at a nickel smelter of Vale, near Sorowako, Sulawesi island, in this Jan. 8, 2014 file photo. Mining companies are required to process their ore before shipping overseas. (Reuters Photo/Yusuf Ahmad)
Jakarta. Profit at Vale Indonesia, the local unit of Brazilian mining giant Vale, climbed by 175 percent in the first nine months of this year from the same period last year, due largely to the higher selling price of nickel and lower cost of revenue, the company said in a statement on Friday.
Net income at Indonesia’s largest nickel producer was recorded at $130.4 million in the January-September period, from $47.3 million last year.
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