Chinese Miner Joins Vale in Building Second Nickel Refining Plant in Indonesia
Chinese miner Zhejiang Huayou Cobalt has clinched a deal with the Indonesian nickel unit of Brazilian mining giant Vale S.A. to build a second...
447 Views
Vale Indonesia (INCO.IJ) - Weak Nickel Price to Hit FY24 Margin
We expect INCO’s FY24F production volume to be sustained similar as FY23F at 70k tons. We trim our FY24F earnings forecast by 28% due to our lower...
427 Views
Vale Indonesia (INCO IJ) - Lower 3Q23 Profit, but In-Line 9M23
While INCO’s 3Q23 net profit fell to USD52.6 mn (-25.3% qoq/ +193% yoy), its 9M23 net profit of USD221mn (+31.3% yoy) is broadly in-line with ours...
315 Views
Vale Indonesia (INCO IJ) - Down but Still Impressive
INCO’s performance was robust in 1H23 amid normalizing nickel prices, with earnings reaching USD168 mn, up 12% yoy, which was above our estimate...
346 Views
Vale Indonesia (INCO IJ) - Best Class 1 Proxy
We keep INCO as our top pick in the sector although we expect there will be a short-term overhang on its share price as a result of the ongoing...
519 Views