Brazilian miner Vale produced 86.23 million mt of iron ore and 9.18 million mt of pellets during Q3 2023, respectively 3.9 percent less and 11.1 percent more than in Q3 2022.
When comparing to Q2 2023, production of both iron ore and pellets increased, by 9.5 and 0.7 percent, respectively.
According to the company, production during Q3 was negatively affected by a lower run-of-mine production from the Paraopeba complex, and lower production from Serra Norte.
The overall quality of the ore has improved, the company said, due to higher production at S11D and higher pellet feed output from Brucutu, with the commissioning of the Torto dam, increasing pellet production by 11 percent on yearly basis.
Vale reported that sales of iron ore fines reached 69.71 million mt in Q3 2023, while pellet sales reached 8.61 million mt, respectively 10.1 percent more and 2.2 percent less than in Q2 2023, and 6.6 percent and 1.1 percent more, respectively, than in Q3 2023.
The average FOB sales prices during Q3 reached $105.1/mt for the iron ore fines, and $161.2/mt for the pellets, representing increases of 6.7 percent and 0.5 percent from the previous quarter.