Nickel miner Vale Indonesia (INCO) booked a net profit of US$28.96 million in the first quarter (Q1) of 2020, against a loss of US$20.16 million in the corresponding period of 2019. Revenue grew 38% to US$174.66 million from the previous US$126.43 million. The cost of revenue only increased by 3.36% to US$154 million, then gross profit was US$20.48 million, against a loss of US$23.27 million in Q1 of 2019.

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