Brazilian miner- Vale’s total iron ore fines production in Q1 CY’21 was recorded at 68mn t, up 14% as against 59.6 mn t in Q1 CY’20.The y-o-y growth is attributed to the gradual resumption of halted operations in Timbopeba, Fabrica and Vargem Grande complexes throughout CY’20, stronger performance in Serra Norte and lower rainfall in January and the restart of Serra Leste operations.
On quarterly basis the output reduced by 19% as compared to 84.5 mn t in Q4 CY’20.
The total pellet output recorded at 6.3 mn t in Q1 CY’21 was down 9% y-o-y as compared to 6.9 mn t in Q1 CY’20 as a result of lower pellet feed availability from Vale’s sites mainly from Itabira and Brucutu..
Iron ore and pellet sales up for the quarter
Sales picked up to 65.6 mn in Q1 CY ’21 against 59 mn t in Q1 CY’20. Iron ore sales in Q1CY’21 stood at 59.3 mn t (up 15% y-o-y) and pellet sales was at 6.3 mn t (down 14% y-o-y).
Key updates
- Vale achieved a production capacity of 327 mn t pa in Q1 CY’21, due to the commissioning of Timbopeba’s beneficiation lines (7 mtpa).
- Vale keeps iron ore production guidance at 315-335mnt for CY’21.
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