Brazilian miner and iron ore producer Vale updated its estimates for iron ore output, EBITDA, among other projections for this and next year.
Vale said this week that iron ore output should reach 300-305 million mt this year, compared to the previous guidance of 310 million mt, and 315-335 million mt in 2021. The company’s iron ore cash cost without third party purchase costs should reach $13.6/mt this year and $10.5-$12/mt in 2021 as it achieves a production level of 400 million mt/year.
The miner said Capex spending this year should total $4.2 billion, and then increase to $5.8 billion in 2021 and reach an “average” of $5.5 billion in “the next years.”