Analysts at Credit Suisse said Vale will likely miss its iron ore production target of 310-330 million mt this year.
Analysts Caio Ribeiro and Gabriel Galvão estimated Vale will likely produce 300 million mt of iron ore this year, and an estimated 365 million mt in 2021.
A media report by Money Times citing the Credit Suisse report said Vale would have had to produce about 91 million mt each quarter, starting in Q2, to meet its own production target of 310-330 million mt this year.
“Vale’s ability to resume the halted capacity is, in our opinion, an important risk event for (the company’s) investment argument,” the analysts said.