Vale 4Q20 iron ore output lower than estimated
Image from Vale.
Vale reported 4Q20 output of 84.5 million tonnes, lower than estimated by analysts, mainly due to higher rainfall levels and tailings disposal restrictions in the Southeastern System in Brazil.
The number is a 5% decline from the third quarter (88.6 Mt) but well ahead of the same period a year earlier (78.3Mt).
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Vale’s iron ore fines production totaled 300.4 Mt in 2020, in line with 2019 as a result of the resumption of halted operations such as Vargem Grande and Timbopeba, but offset by constraints in tailings disposal in Itabira and Brucutu; and delays in opening new mining fronts in Serra Norte and due to covid-19 restrictions.