Brazilian miner and iron ore producer Vale has unveiled this week its iron ore capacity guidance for both end-2021 and end-2022, SteelOrbis has learned.
According to a Vale’s presentation to investors and analysts, it expects its iron ore capacity to reach about 343 million mt by end-2021, and 370 million by end-2022. Vale also said that it expects to reach an iron ore capacity of 400 million mt in the “medium-term,” without disclosing further details.
In the long term, it should reach an iron ore capacity of between 400 to 450 million mt. Vale said its Northern System should alone contribute to a 205 million mt capacity by end-2021. The company’s Northern System iron ore capacity should remain unchanged at 205 million mt in end-2022, however, it should then increase to 215 million mt in the “medium-term” and to 240-260 million mt in the “long-term.” The Northern System includes its Carajás iron ore mine.