Vale recently released its production and sales reports for the fourth quarter of 2022. The report shows that in the fourth quarter of 2022, Vale's iron ore fine and nickel sales performed strongly, with a quarter-on-quarter increase of 24% and 30% respectively, which consumed the inventory of Q3.
An excerpt from the announcement is as follows: Iron ore production totaled 308 mt in 2022, down 2% YoY, mainly due to (i) licensing delays at Serra Norte; and (ii) jaspilite waste processing and operational performance at S11D. This was partially offset by (i) continued production ramp-up at Vargem Grande; (ii) higher dry processing production at Brucutu; and (iii) higher third-party purchase.
Pellets production totaled 32 mt in 2022, up 1% YoY, with an improved mix of direct reduction pellets (49% of total production vs. 41% in 2021), leveraging on the higher-quality feed and taking advantage of better market premiums.
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