Trade Receivables PT Vale Indonesia Tbk Annual Reports 2005

Catatan atas Laporan Keuangan untuk 31 Desember 2005 dan 2004 PT International Nickel Indonesia Tbk Notes to the Financial Statements December 31, 2005 and 2004 PT International Nickel Indonesia Tbk 16 6. Piutang Lain-lain 6. Other Receivables 31 Desember 2005 2004 December 31 Dalam ribuan Dolar AS US, in thousands Tagihan Lindung Nilai Minyak 1.578 1.571 Oil Hedging Receivables Nilai wajar - Kontrak Swap HSFO lihat Catatan 31 – 2.119 Fair Value - HSFO Swap Contract see Note 31 Tagihan kepada Kontraktor 4.889 338 Recoveries from Contractors Lain-lain 2.244 2.192 Others Jumlah 8.711 6.220 Total Perseroan tidak membuat penyisihan piutang ragu-ragu karena manajemen berpendapat bahwa piutang dapat tertagih seluruhnya.

7. Persediaan

31 Desember 2005 2004 December 31 Dalam ribuan Dolar AS US, in thousands Nikel Metals Dalam proses 33.780 29.347 In process Barang jadi 5.065 3.607 Finished 38.845 32.954 Bahan Pembantu 55.091 49.132 Supplies Dikurangi: Penyisihan untuk Less: allowance for bahan pembantu usang 2.607 2.888 obsolete supplies 52.484 46.244 Jumlah 91.329 79.198 Total Mutasi penyisihan bahan pembantu usang adalah sebagai berikut: The Company’s management believes that the provision for obsolete supplies is adequate to cover possible losses from obsolete supplies. As of December 31, 2005, inventories owned by the Company were insured against the risk of loss due to earthquake and fire. Supplies are insured at replacement cost, metals in process at the cost of raw materials and labor expended plus a proper proportion of overhead charges, while finished metals are insured at regular net cash selling price or at reproduction cost whichever is higher. In management’s opinion, the Company’s insurance is adequate to cover possible losses from such risks. 31 Desember 2005 2004 December 31 Dalam ribuan Dolar AS US, in thousands Saldo awal 2.888 5.640 Beginning balance Penambahan Penyisihan 8.218 – Additional allowance Penghapusan Persediaan 8.499 2.752 Write-Off of inventories Saldo akhir 2.607 2.888 Ending balance The Company has not provided an allowance for doubtful accounts as management is of the opinion that these receivables will be collected in full.

7. Inventories

Movement in the allowance for obsolete supplies is as follows: Manajemen Perseroan yakin bahwa penyisihan untuk bahan pembantu usang telah mencukupi terhadap kemungkinan kerugian yang timbul dari bahan pembantu usang. Pada tanggal 31 Desember 2005, persediaan Perseroan telah diasuransikan terhadap risiko bencana alam dan kebakaran. Bahan pembantu diasuransikan dengan jumlah pertanggungan asuransi sebesar harga pengganti, nikel dalam proses diasuransikan dengan jumlah pertanggungan asuransi sebesar biaya penambangan bijih dan tenaga kerja ditambah proporsi tertentu biaya overhead, sedangkan untuk barang jadi nikel diasuransikan dengan jumlah pertanggungan asuransi sebesar mana yang lebih besar antara harga jual kas bersih atau biaya produksi. Menurut pendapat manajemen, pertanggungan asuransi yang dimiliki Perseroan telah memadai untuk menutupi kerugian yang mungkin timbul dari risiko-risiko tersebut. Catatan atas Laporan Keuangan untuk 31 Desember 2005 dan 2004 PT International Nickel Indonesia Tbk Notes to the Financial Statements December 31, 2005 and 2004 PT International Nickel Indonesia Tbk 17

8. Biaya Dibayar Di muka dan Uang Muka

31 Desember 2005 2004 December 31 Dalam ribuan Dolar AS US, in thousands Asuransi dibayar di muka 149 811 Prepaid insurance Uang muka untuk kontraktor dan pemasok 6.459 4.343 Advances to contractors and suppliers Lain-lain 413 456 Others Jumlah 7.021 5.610 Total

9. Aktiva Tetap

1 Jan. 2005 Penambahan Transfer Pengurangan 31 Des. 2005 Jan. 1, 2005 Additions Transfers Disposals Dec. 31, 2005 Dalam ribuan Dolar AS US, in thousands Harga Perolehan Cost Pemilikan langsung Direct ownership Fasilitas dan bangunan Hydroelectric dam bendungan air 403.783 – – – 403.783 buildings and facilities Jalan dan jembatan 16.976 – – 224 16.752 Roads and bridges Bangunan 525.941 – 8.868 6.517 528.292 Buildings Pabrik dan mesin 911.899 – 68.796 65.006 915.689 Plant and machinery Beban tangguhan 33.545 – – 2.161 31.384 Deferred charges Perabotan dan peralatan kantor 29.296 – 1.176 2.247 28.225 Furniture and equipment Pengembangan tambang 22.699 – 5.382 3.935 24.146 Mine development Aktiva tetap dalam penyelesaian 73.617 107.649 89.338 – 91.928 Construction in progress 2.017.756 107.649 5.116 80.090 2.040.199 Aktiva sewa guna usaha pembiayaan Under finance leases Mesin 45.203 – 5.116 – 50.319 Machinery Total 2.062.959 107.649 – 80.090 2.090.518 Total Akumulasi Penyusutan Accumulated depreciation Pemilikan langsung Direct ownership Fasilitas dan bangunan Hydroelectric dam bendungan air 109.355 10.128 – – 119.483 buildings and facilities Jalan dan jembatan 7.137 468 – 50 7.555 Roads and bridges Bangunan 296.464 4.813 – 3.222 298.055 Buildings Pabrik dan mesin 435.211 27.791 – 41.630 421.372 Plant and machinery Beban tangguhan 25.012 3.223 – 2.160 26.075 Deferred charges Perabotan dan peralatan kantor 24.947 1.769 – 2.232 24.484 Furniture and equipment Pengembangan tambang 5.306 1.044 – 2.798 3.552 Mine development 903.432 49.236 – 52.092 900.576 Aktiva sewa guna usaha Under finance leases Mesin

7.46 3 4.460

– – 11.923 Machinery Total 910.895 53.696 – 52.092 912.499 Total Nilai Buku 1.152.064 53.953 – 27.998 1.178.019 Net Book Value

8. Prepaid Expenses and Advances

9. Property, Plant and Equipment