Vale S.A.’s VALE third-quarter 2021 iron ore production was 89.4 million tons (Mt), which came in 1% higher than the year-ago quarter and 18% higher than the second quarter of 2021. The company stated that it will cut back production of low-margin iron-ore in the fourth quarter by about 4 Mt tons due to low prices. If prices do not rebound, the company plans to trim output next year as well.
The sequential improvement in iron ore production in the quarter was aided by improvement of weather-related conditions in the Northern System that boosted Serra Norte and S11D performance. It was also aided by an increase in output in Itabira operations, higher output at Vargem Grande due to dry processing, and a rise in purchases of ore from third parties.
Vale’s pellet production was down 2.6% year over year but up 4.1% sequentially to 8.3 Mt in the quarter. Third-quarter sales volume of iron ore fines and pellets was 75.9 Mt, up 2% year over year and 1% from the second quarter of 2021.
Production of nickel fell 21.8% year over year to 30.2 kt in the September-ended quarter. Compared to the second quarter of 2021, nickel production was down 27.2% due to labor disruption at Sudbury and extended maintenance at Onca Puma during the quarter.
Copper production was 69.2 kt in the quarter, down 21% year over year and 5.7% from the second quarter of 2021. The labor disruption in Sudbury impacted copper production by 16 kt in the quarter, which was offset by an improved performance at...
Read Full Story: https://www.nasdaq.com/articles/vales-vale-iron-ore-output-up-18-sequentially-in-q3-2021-10-20
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.