Vale to cut iron ore sales by 50-75 mln tonnes in 2019, CFO says

Brazilian miner Vale expects iron ore sales volumes in 2019 to be cut by 50-75 million tonnes, from a previous internal, undisclosed target of 382 million tonnes of sales during the year, chief financial officer Luciano Siani said on Thursday March 28 in a conference call with analysts.

The reduction will be caused by the mine closures that ensued after an accident at the Córrego do Feijão unit, Siani added. Further developments should settle the extent of the reduction. Sales volumes would, then, be reduced to 307-332 million tonnes during the year, compared with 365.6 million tonnes of iron ore and pellets in 2018. A tailings dam rupture at Feijão on January 25, prompting the company to halt operations where the waste material...

Published

Felipe Peroni

Renato Rostás

March 28, 2019

17:35 GMT

São Paulo