Vale cuts nickel, copper output estimates; still assumes long-term growth

Global miner Vale was expecting long-term growth in production from its nickel and copper operations, despite foreseeing lower volumes than were previously predicted, according to a document filed with Brazilian securities and exchange commission CVM.

The Brazil-based company estimated that nickel output would average 200,000 tonnes per year in 2021-23, and 220,000 tpy in 2024-25. This showed lower volumes than Vale’s previous guidance of 240,000 tpy until 2022.

But the company decided to keep its current nickel production guidance for 2020 unaltered at 180,000-195,000 tonnes, excluding the New Caledonia unit. It produced 132,800 tonnes in...

Published

Renato Rostás

December 02, 2020

14:20 GMT

São Paulo