Brazilian miner and iron ore producer Vale updated this week its iron ore capacity guidance for this year and next year, indicating capacity should reach 341 million mt by the end of 2021 and increase to 370 million mt in 2022.
Without disclosing a specific timeline, the miner expects to reach a capacity of 400 million mt in the “medium-term.” As for the long-term, iron ore capacity could reach between 400 to 450 million mt.
Vale also unveiled a forecast for its iron ore output, noting that production should reach between 315-320 million mt in 2021 and 320-335 million mt in 2022.