INCO – Hold optimistic outlook driven by an increase in nickel production

INCO – Hold optimistic outlook driven by an increase in nickel production Vale Indonesia (INCO) holds an optimistic outlook for achieving their 2023 nickel production target of 70,000 tons in matte, driven by strong operational performances as of the end of September 2023. INCO produced 51,644 tonnes of nickel in matte during the 9M23, (+17.6% yoy). This increase is attributed to improvements in furnace performance and other operational factors. INCO is also making efforts to control energy costs, including a shift to coal usage and optimizing energy efficiency. Despite challenges, the company is in the process of budgeting and calculating production projections for 2024. (Source: Kontan)