According to sources, Brazilian miner Vale says it plans to recover its position as the world’s number one iron ore miner, a title that was lost in 2019 to Rio Tinto.
The reduced production derived from the collapse of the Brumadinho dam, in the southeastern state of Minas Gerais, which resulted in the stoppage of mining activities in the surrounding area, including the Barra do Feijão mine, which is part of the Paraopeba Complex, that produced 27.3 million mt of iron ore in 2018.
The iron ore mining activities of Vale operate today at a pace of 315 million mt per year. The company forecasts its iron ore production will be in the range of 310-320 million mt in 2024, while, with the start of operations at Vargem Grande and Capanema, also in the state of Minas Gerais, Vale’s capacity will increase to 345 million mt. For 2026, the company expects its output to be in the range of 340-360 million mt, and at least 360 million mt from 2030.