Vale maintains guidance for iron ore fines despite Itabira suspension

Vale is maintaining its iron ore fines production guidance for 2020 despite suspending operations at its Itabira mining complex from Friday June 5 to support the fight against Covid-19, it said over the weekend.

Its iron ore fines production guidance of 310-330 million tonnes in 2020 will remain unchanged because the loss of 15 million tonnes due to the Covid-19 pandemic has already been considered.
“Considering the expected monthly production of 2.7 million tonnes from the Itabira complex for the coming months and the provisioning of up to 15 million tonnes of losses associated with Covid-19 in 2020, there is no need, at this moment, to revise the guidance,” Vale said.

But there may be a temporary shortage of pellets for the Brazilian market given...

Published

Zihao Yu

June 08, 2020

05:21 GMT

Singapore