Vale reports lower iron ore production in Q1 2022
2022-04-20 14:25:43 [Print]
Brazilian miner Vale SA reported iron ore production of 63.9 million tonnes in Q1 2022, down by 6.0% from Q1 2021 and 22.5% from Q4 2021, hit by heavy rainfall in January in Minas Gerais state which curbed its main production.
Production was lower also due to major maintenance services, which should be positive for the rest of the year, allowing Vale to maintain its annual guidance of 320-335 million tonnes of iron ore.
The miner sold 53.6 million tonnes of iron ore in the quarter, down 9.6% YOY. Total iron ore sales volume, including pellets, was 60.6 million tonnes.
Production was lower also due to major maintenance services, which should be positive for the rest of the year, allowing Vale to maintain its annual guidance of 320-335 million tonnes of iron ore.
The miner sold 53.6 million tonnes of iron ore in the quarter, down 9.6% YOY. Total iron ore sales volume, including pellets, was 60.6 million tonnes.
