Vale lowers iron ore production capacity forecast for next year
2021-09-13 10:41:29 [Print]
Brazilian mining company Vale has reduced its iron ore production capacity estimate for 2022 because of a slower ramp-up of operations in northern Brazil.
The company expects its iron ore capacity to reach 370 million tonnes per year by the end of 2022, it said in a presentation to analysts on Thursday September 9. This compares with a previous estimate of 400 million tpy.
According to Vale, iron ore production capacity of 400 million tpy will be reached "in the medium term," and will remain between 400-450 million tpy in the long term.
The company expects its iron ore capacity to reach 370 million tonnes per year by the end of 2022, it said in a presentation to analysts on Thursday September 9. This compares with a previous estimate of 400 million tpy.
According to Vale, iron ore production capacity of 400 million tpy will be reached "in the medium term," and will remain between 400-450 million tpy in the long term.
