Vale cautions against firm 2020 iron ore output outlook following Covid-19

Vale’s iron ore fines output fell by 7.1% year on year in the first half of 2020, but the company has maintained its 2020 production guidance at 310-330 million tonnes and will assume the lower end, it said on Monday July 20.

The company’s iron ore fines production came to 127.2 million tonnes in the January-June period, down from 136.9 million tonnes the year before, which it attributed to the effects of Covid-19.
The Covid-19 pandemic had caused the Brazilian miner to suspend operations at its Itabira Complex for up to 12 days in early June in an effort to contain the spread of the virus through its operational facilities.

There were also manpower issues...


Alex Theo

July 21, 2020

12:10 GMT