Vale cuts its 2020 production target due to the impact of the epidemic

SMM4, March 20: a few days ago, Brazilian mining company Vale said in a document, downgraded 2020 iron ore powder and pellet ore, copper and nickel production estimates, because the epidemic is postponing the reopening of some facilities.

Vale's lower production estimates are due to delays in restarting mines such as Timbo Piba (Timbopeba) and Fabrica (Fabrica) due to outbreaks of inspection and authorization as a result of the outbreak.

Vale cut its estimated annual output of iron ore powder from 340 million tons to 355 million tons to 310 million tons to 330 million tons. The company cut its forecast for pellet production from 44 million tons to 3500-40 million tons.

In other metals, the forecast for copper production in 2020 was cut to 36-380000 tons from 400000 tons, and the forecast for nickel production was cut to 18-195000 tons from 20-210000 tons. The forecast does not include production at the New Caledonian plant.

Vale reported that its iron ore production fell 18.2 per cent from a year earlier to 59.6 million tonnes in the first quarter, below expectations of 63 million tonnes.

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