Vale’s iron ore output rises in Q1 amid plant resumptions

Tuesday, 20 April 2021 12:21:18 (GMT+3)   |   Istanbul
       

Brazil-based miner Vale has announced its operational results for the first quarter of current year.

Accordingly, the company has reported iron ore production of 68.0 million mt in the first quarter, falling by 19.5 percent compared to the previous quarter and up 14.2 percent year on year. The year-on-year increase is attributed to the gradual resumption of halted operations at the Timbopeba, Fábrica and Vargem Grande plants last year, the stronger performance in Serra Norte, and lower rainfall in January, while the quarter-on-quarter decline in production is mainly attributed to the usual seasonality.

In the given quarter, Vale’s pellet production totaled 6.3 million mt, decreasing by 11.7 percent compared to the previous quarter and by 9.2 percent year on year as a result of lower pellet feed availability from Vale’s sites mainly from Itabira and Brucutu.

Meanwhile, in the given period, Vale’s coal production fell by 44.5 percent year on year to 1.09 million mt.

In the given quarter, Vale’s sales of iron ore and pellets reached 65.6 million mt, up by 11 percent year on year, amid stronger iron ore production, but partially offset by lower pellet-feed availability. 

Following its stabilization and resumption plan, Vale achieved a production capacity of 327 million mt in the first quarter this year, due to the commissioning of Timbopeba’s beneficiation lines, which was partially offset by performance restrictions at different sites. Vale stated its intention to exit the coal business and concluded the revamp of the two processing plants in Moatize in April, which is expected to produce sustainable results for the business.

Despite a weaker quarter, Vale expects to gradually increase production during 2021 with the higher availability of pellet feed from the Timbopeba and Vargem Grande plants.


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