PT Vale Indonesia Tbk, an Indonesia-based nickel miner and producer, reported that its net profit totaled US$167.2 million in 2021, hiking by 112.5% compared to the previous year. The income in 2021 was posted at US$953.2 million, 25% higher than the figure in 2020.

Besides, the company’s EBITDA was US$391.9 million, up by 44% year on year.

Febriany Eddy, CEO and President Director of Vale Indonesia, said that higher nickel prices and strict cost controls had a positive impact on the company’s financial performance.