Brazil: Vale’s iron ore production up 12% y-o-y in Q2 CY’21

World’s leading iron ore miner- Vale reported an increase in iron ore production of 75.7 mn t in Q2 CY’21, higher by 12% y-o-y. The reasons behind the increase in production volumes are: –

• Serra Leste mine achieved its full capacity of 6 mn t pa, higher volumes from Brucutu mines, seasonal improvement of weather-related conditions in Serra Norte.
• Vale keeps iron ore production guidance intact at 315-335mnt for CY’21.