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Vale says capacity reduced by the outbreak may slow down
Apr 1,2020 08:09CST
The content below was translated by Tencent automatically for reference.

SMM4, January 1-Brazilian mining company Vale do Rio Doce said Tuesday that the recovery of lost capacity is at risk of delay due to delays in assessment and authorization work related to the new crown, but that the impact of existing output is small.

Vale said in February that it hoped to restore production capacity of about 40 million tonnes a year at mines that were under safety review after Mount Brodini. "so far, Vale has performed relatively well and has had a limited impact on production and sales, but our ecosystem has been severely affected by the new Covid-19 restrictions, which could affect our operations," the company said. "

After examining the global iron ore market for all producers, Vale said production in the transatlantic market could be disrupted by about 18 million tonnes due to blockade-related production cuts in Canada, Malaysia, India, Peru and Africa.

Vale said it had so far had little impact on its Brazilian mines or Chinese ports and that they were still operating. As a result of the outbreak, the company has taken steps to protect companies in its supply chain, including advance payments to more than 1000 suppliers. Vale is also changing payment terms for about 3000 other customers, the statement said.

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