Brazilian miner and iron ore producer Vale unveiled this week updated 2020 production estimates for its S11D mine.
The company said it expects its S11D mine to produce 85 million mt of iron ore in this year, down from its previous forecast of 90 million mt. Vale also said pellet output in 2020 should reach between 30 to 35 million mt, down from a 35-40 million mt/year estimate.
The company’s reduced iron ore and pellet production guidance confirms analysts’ assumptions earlier this year that Vale will likely miss its production targets.