The Brazilian miner, Vale, reported it has updated its expectations for iron ore production.
Under the new assumptions, the iron ore production in 2024 will reach 328 million mt, while in 2025, the volume will stand in a range of 325 to 335 million mt, in 2026, 340 to 360 million mt, and in 2030, the target will be 360 million mt.
For agglomerated products, which include pellets and brickettes, production should reach 38 million mt in 2024, 38 to 42 million mt in 2025, 45 to 50 million mt in 2026, and 60-70 million mt in 2030.
The average iron contents of the company's iron ore products should reach 62.3 percent in 2024, 62.5 percent in 2025, 63 percent in 2026, and 63 to 64 percent in 2030.
The cash cost for the iron ore production will close 2024 at $22/mt, for 2025 at $20.5 to 22/mt, for 2026 lower than $20/mt, and for 2030 $18 to 19.5/mt.
Such costs include the main production costs, such as mining, railroad and port costs, but not iron ore acquisitions from third parties.