Brazilian miner and iron ore producer Vale unveiled this week production target volumes for the next five years. According to a document filing late this week, Vale expects to produce approximately 390 million mt/year of iron ore this year. The company said it should then maintain a 400 million mt/year iron ore production target for 2019-2023.
Vale’s nickel production volumes in 2018 should reach 240 million mt. Then, it expects to produce 244 million mt/year in 2019 and 320 million mt/year in 2023. It did not release nickel production estimates for the 2020-2022 period.
Vale’s coal production target volumes should reach 12 million mt/year in 2018. As for the next five years, it forecasted to produce 14 million mt/year in 2019, 18 million mt/year in 2020, and then 20 million mt/year in 2021, 2022 and 2023.
Vale also unveiled pro forma operational costs for coal out of the Nacala port, including mine, plant, railways, and port expenses, but excluding royalty expenses. It said Nacala coal operational costs will reach $106/mt this year. Then it plans to reduce the product’s cost to $96/mt in 2019, $85/mt in 2020, $74/mt in 2021, $69/mt in 2022 and $64/mt in 2023.