Vale’s iron ore production grew 5.5% in second quarter

Vale’s iron ore production in the second quarter of 2020 grew 5.5% compared to the same period last year, and 13.4% compared to the first quarter of 2020, totaling 67.6 million tonnes.

Despite this, iron ore sales fell 11.8% in the annual comparison, due to the logistics waiting time between production and sales, with many of them remaining on hold until the next quarter.

But there was an increase of 5.7% compared to the first quarter, when the company suffered from climatic problems, delays in resuming production in mines and other factors caused by the coronavirus.

Vale, which has been working to resume part of the production suspended due to the accident at Brumadinho (MG) in 2019, reported that the extraction of iron ore in June was above 25 million tonnes, “presenting a strong increase in relation to to April and May levels ”, and entering a seasonally strong period, with lower levels of rain.

According to Vale, the forecast for the production of iron ore fines in 2020 remains unchanged at 310-330 million tonnes, but stressed that the most likely scenario is that it “will be at the lower end” of the target.

Source: Reuters

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