Vale Indonesia reports 182% profit rise to US$147 million
Higher nickel matte shipments and ore sales supported revenue growth, while the company drew US$175 million from available loan facilities.
PT Vale Indonesia Tbk reported net profit of US$147 million in its third-quarter 2026 results, approximately 182% above the US$52 million recorded a year earlier. The MIND ID holding member reported revenue of US$896 million, up 27% from US$705.4 million.
The company attributed the revenue increase mainly to greater nickel matte shipment volumes and growing contributions from nickel ore sales at Bahodopi and Pomalaa. Third-quarter matte shipments totalled 20,158 metric tonnes, against 13,932 metric tonnes in the second quarter. The average realised price fell to US$14,053 per tonne from US$14,765.
Nickel-in-matte output reached 18,341 metric tonnes in the third quarter, its highest quarterly production in 2026 following major maintenance earlier in the year. Vale said improved equipment availability and stable plant operations supported the increase from the preceding quarter.
Bahodopi sold 415,000 wet metric tonnes of ore during the third quarter, down from 1,074,665 wet metric tonnes in the second quarter. Its sales for the first nine months reached 2,375,759 wet metric tonnes. Pomalaa's quarterly sales rose to 1,314,358 wet metric tonnes from 495,601 wet metric tonnes, bringing its nine-month figure to 1,898,943 wet metric tonnes.
Vale spent approximately US$95 million on capital expenditure over the first nine months of 2026, supporting existing operations and strategic project development. Cash and cash equivalents stood at US$247 million on 30 September 2026, compared with US$111 million at the end of June.
To help fund capital spending, the company drew US$175 million from available loan facilities during the third quarter. Vale said the borrowing formed part of its financing strategy to retain financial flexibility for operations and strategic projects.
