Vale iron ore output down 18% y-o-y in Q1; cuts 2020 guidance

Iron ore fines output at Brazil-based miner Vale fell by 18.2% year on year in the first quarter of 2020, while the company has cut its guidance of iron ore and pellet production for 2020, the company said on Friday April 17.

Iron ore fines production came to 59.6 million tonnes in the January-March period, down from 72.87 million tonnes the year before, and just below the company’s revised guidance for the quarter of 63-68 million tonnes, it said.
Vale’s iron ore and pellets sales reached 58.97 million tonnes in the first-quarter 2020, down from 67.73 million tonnes in the first quarter of 2019.
The company’s results were lower than it had expected because of unplanned maintenance at Vale’s S11D iron ore operations, heavy rainfall in the country and lower production from mining operations in Brazil’s southeastern region, it said.

Subsequent to the decline in its first-quarter production and negative operational consequences of the Covid-19 pandemic, Vale...


Felipe Peroni

April 20, 2020

10:00 GMT

São Paulo