Vale Iron Ore Output Increased in Third Quarter, Copper and Nickel Output Declined

SHANGHAI, Nov 4 (SMM) - Vale generated cash flow of $7.765 billion in the third quarter, an increase of $1.238 billion from the second quarter, according to the third-quarter financial performance report issued on October 28.

The output of iron ore fines reached 89.4 million mt, an increase of 18.1% from the second quarter. The output of finished nickel was 30,200 mt, down 27.2% from the second quarter, and the copper output was 69,200 mt, down 5.7% from the second quarter.

Vale's nickel output will reach 45,000-50,000 mt in the fourth quarter, and the copper output will reach 75,000-80,000 mt. In 2021, nickel output will stand at 165,000-170,000 mt, and annual copper output will reach 295,000-300,000 mt.