Vale reduces 2020 iron ore output guidance to 300-305 million tonnes

Brazilian miner Vale has lowered its iron ore production guidance for 2020 to 300-305 million tonnes from 310-330 million tonnes due to the supply disruptions seen throughout the year, the company said on Wednesday December 2 in a filing to the country’s securities and exchange commission, CVM.

Previously, the company was expecting to deliver the bottom end of the estimated range for 2020, given adverse weather conditions at the start of the year and issues stemming from the Covid-19 pandemic. The ramp-up at units halted due to the 2019 disaster at Brumadinho also took longer than expected.

Vale...

Published

Renato Rostás

December 02, 2020

14:33 GMT

São Paulo