Vale said it was expecting to produce 63-68 million tonnes of iron ore fines in the January-March period, down by 5 million tonnes from an earlier estimate of 68-73 million tonnes
The miner suffered production losses amounting to 1 million tonnes due to heavy rainfall at its mining operations in Brazil’s southeastern region in January and February, according to its production report, released on Tuesday.
Despite this, Vale is maintaining its 2020 guidance at 340-355 million tonnes.
Vale did not give a guidance for sales in the first quarter in its latest announcement.
The miner said it produced 78.34 million tonnes of iron ore fines in the fourth quarter of 2019, a decrease of 22.4% from 100.99 million tonnes a...