October 30, 2025 | 02:29 pm
TEMPO.CO, Jakarta – Mining giant PT VALE Indonesia Tbk. (INCO) recorded a total revenue of US$705 million or Rp11.6 trillion (using an exchange rate of Rp16,536 per US dollar) for the period of January through September 2025. This figure marks a slight decrease from the US$708 million reported in the same period last year.
Based on the company's financial report filed with the Indonesia Stock Exchange (BEI) on Wednesday, October 29, 2025, the revenue was generated primarily from the sale of nickel matte, which totaled US$661.8 million or Rp10.9 trillion, and nickel ore, which amounted to US$43.4 million or Rp717.5 billion.
Meanwhile, Vale's cost of revenue was recorded at US$631.9 million or Rp10.4 trillion, an increase from US$628.3 million in the corresponding period last year. Despite the slightly lower revenue, Vale's profit through the third quarter of 2025 increased to US$52.4 million or Rp886.3 billion, up from US$51.1 million in the previous year.
As of September 2025, Vale reported total assets of US$3.2 billion. The company's equity was recorded at US$2.7 billion, with liabilities totaling US$491.1 million.
In September, Vale announced that the Investment Management Agency (BPI) Danantara expressed interest in investing in three of the company's nickel processing facility projects.
The first project, a collaboration with Zhejiang Huayou Cobalt, a Chinese producer of cobalt, nickel, and lithium, and Ford Motor Company, a multinational automotive company from the U.S., is located in Pomalaa, Kolaka, Southeast Sulawesi.
The second project is situated in Sambi Lagi, Morowali, Central Sulawesi, and is being built with GEM Co., Ltd, a Chinese battery materials manufacturing company.
The third project, also established with Zhejiang Huayou Cobalt, is located in Sorowako, East Luwu, South Sulawesi.
Muhammad Asril, Director and Chief Project Officer of Vale Indonesia, stated that the involvement of Danantara and other investors will strengthen the funding base and accelerate the development realization. He stressed the company's commitment to utilizing environmentally friendly energy in all three smelter projects to support global decarbonization efforts.
He detailed that approximately 80 percent of the energy needs for the Pomalaa nickel smelter project are met through heat recovery, a technology that captures and reuses waste heat from production processes, with the remainder sourced from liquefied natural gas (LNG).
Furthermore, the Sambilagi, Morowali project is located within an international green industrial park, and its energy supply is sourced entirely from renewable sources like heat recovery, solar panels, and biomass. "In Morowali, 100 percent of the energy is renewable-based and does not use LNG," Asril confirmed.
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