JAKARTA: Nickel miner PT Vale Indonesia is targeting to produce around 74,000 tonnes of nickel in matte in 2019, slightl
JAKARTA: Nickel miner PT Vale Indonesia is targeting to produce around 74,000 tonnes of nickel in matte in 2019, slightly lower than last year's production, president director Nico Kanter said on Tuesday.
* Lower production this year is due to a 10-week shutdown started in mid-February to the third week of April to conduct maintenance at furnaces and the power plant at its smelter in Sorowako, said director Bernardus Irmanto.
* Meanwhile, the company is doubling its cash spending to $165 million this year to help finance construction of two different smelters in Sulawesi.
* Vale is aiming to pick a partner from two Chinese investor candidates for its ferronickel plant in Bahodopi, Central Sulawesi, within the second quarter, said deputy CEO Febriany Eddy. Vale expects to be the majority shareholder at the plant.