PT Vale Indonesia announced production and revenue results for the second quarter and production results for the six months of 2018. For the quarter, the company's production volume in second quarter was about 10% higher than production volume in first quarter of 2018. On a year-on-year basis, production in second quarter was about 6% lower than productions in the second quarter of 2017. This was basically due to a delay in some of the planned maintenance activities to April 2018 that were originally scheduled in March 2018. The company's cost of revenue in second quarter increased by $12.7 million, in line with the increase in production in the quarter from 17,141 metric tons in first quarter of 2018 to 18,893 metric tons in second quarter.

In addition, production in first half 2018 was 4% lower than first half in 2017, mainly due to lower average nickel grade in first half 2018.

Revenue in second quarter of 2018 was about 20% higher due to higher deliveries as well as average realized price in second quarter of 2018. Nickel matte delivery increased by approximately 9% to 18,764 metric tons and average realized price up by around 10% to $10,880 per ton in second quarter compared to first quarter of 2018.

The company optimistic of meeting 2018 full year production target of approximately 77,000 tons.