PT Vale Records 85% Increase in Net Profit for First Quarter of 2026
PT Vale Indonesia Tbk recorded solid financial performance in the first quarter of 2026 despite a decline in nickel matte production. The company booked a net profit of US$43.6 million, an 85% increase quarter-on-quarter, supported by rising nickel prices and operational efficiencies.
Nickel matte production for the period was recorded at 13,620 metric tonnes, lower than the previous quarter. This decline aligns with the planned maintenance strategy, including the rebuilding of Furnace 3, targeted for completion in the first half of 2026.
On the revenue side, PT Vale achieved US$252.7 million with an EBITDA of US$80.1 million, a 29% increase compared to the previous quarter. This performance was driven by the average selling price of nickel matte rising to US$14,213 per tonne.
The company is also strengthening business diversification by operating three mining blocks simultaneously: Sorowako, Bahodopi, and Pomalaa. In early 2026, PT Vale recorded its first sale of limonite nickel ore from Pomalaa, a key step in expanding its commercial portfolio.
From a cost perspective, the cash cost of nickel matte production was US$10,382 per tonne, remaining competitive despite a slight increase due to higher energy input prices. The company targets further efficiencies through increased production volumes, particularly from the Pomalaa block.
CEO and President Director of PT Vale, Bernardus Irmanto, stated that the company continues to maintain positive margins amid industry challenges.
“At the same time, we are expanding our commercial portfolio through the start of limonite sales from Pomalaa, which strengthens revenue diversification and business sustainability,” he said.
Additionally, PT Vale has bolstered its sustainability strategy by signing a US$750 million Sustainability-Linked Loan, described as the first in Southeast Asia’s mining sector.
Looking forward, the company is optimistic that performance will continue to grow in line with global nickel price trends and increased production volumes, expected to drive margins and operational efficiencies.