Nickel producer Vale Indonesia (INCO) suffered a loss of US$26 million in the first half (H1) of 2019, against profit US$29 million in the corresponding period of 2018, as revenues fell 22% to US$292.25 million from previous US$374.6 million. Cost of revenues only declined 1.8% to US$315 million, then Vale posted a gross loss of US$22.77 million, against a gross profit of US$53.5 million in H1 last year. Vale booked an operating loss of US$35.4 million in the said period, against profit US$42 million a year earlier.
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