Nikel producer PT Vale Indonesia Tbk (INCO) suffered loss of US$20 million in the first half (H1) of 2016 against profit of US$41.84 million in the corresponding period of 2015. The company reported a 39.7% drop in revenues to US$246.8 million for the period, compared to US$409.6 million in H1/15. Vale’s cost of revenue fell 21% to US$260 million, then it recorded gross loss of US$13.28 million, against US$80.69 million gross profit a previous year. Vale also posted operating loss of US$20.9 million, compared to US$61.8 million profit in H1/15.To subscribe please click here