Brazilian miner and iron ore producer Vale should increase its iron ore output to pre-crisis levels, a minister said during a Brazilian trip to New Delhi, India.
According to a Bloomberg media report, Brazilian mines and energy minister, Bento Albuquerque, said Vale should able to recover output this year, while also increasing production in 2021.
Market analysts expect weaker iron ore prices this year due to Vale’s production level recovery.
Vale reached a record iron ore production in 2018 of 385 million mt and was about to increase output to 400 million mt in 2019, before the Brumadinho disaster killed 259 people and forced the miner to cut production.