Vale Increases Nickel Output to Fastest Pace in 6 Years

by MetalMiner IndX Reports on NOVEMBER 14, 2014 - Vale SA, whose $18 billion base-metal incursion was beset by a slew of delays and stoppages, is growing nickel output at the fastest pace in 6 years at a time of tumbling prices for the stainless steel ingredient, Bloomberg News reported.

 

The Rio de Janeiro-based company beat analysts’ estimates to post a 16% jump in nickel production in the third quarter, taking total output of the metal this year to 201,400 metric tons. That puts Vale, which plans to produce 289,000 tons of nickel in 2014, on track to challenge top producer OAO GMK Norilsk Nickel, which targets as much as 230,000 tons.