The well-known world’s biggest iron ore producer, Vale has recently released its operational review of Q2 16. According to the report, the miner produced 164 MnT iron ore in H1 2016, down by 1.4% as it was 166 MnT in H1 2015.
In Q2 16, the miner produced 86.8 MnT iron ore, higher by 12% as it was 77.6 MnT in Q1 16. On the other hand, on Y-o-Y basis, the iron ore production was down by 2.8% as it was 89.3 MnT in in Q2 15.
Vale’s mine named Carajas production records highest at 36.5 MnT iron ore in Q2 16, up by 13% as compared to Q1 16 as it was 32.3 MnT. However, on Y-o-Y basis, production from Carajas in Q2 16 registered a growth of 15.5%, as it was 31.6 MnT in Q2 15.
The company is in the mid of ramping up production at its S11D mine, the iron ore’s biggest development project, which should be finished before year-end. S11D will add another 90 MnT to the miner’s capacity, pushing it over 400 MnT.
Company’s pellet production, excluding Samarco’s attributable production, reached 10.0 MnT in Q2 16, 12.4% lower in Q1 16 and 17.9% lower in Q2 15. Pellet production was down due to halt of the Fábrica pelletizing plant, delays in obtaining environmental permits for the expansion of adjacent mines and the scheduled maintenance stoppages at the Tubarao plants in Q2 16. Tubarao’s production achieved the monthly record of 637,000 MT in May’16.
The miner aims to produce around 340 MnT iron ore by the end of 2016. Also, the miner produced 345.9 MnT iron in 2015.
Note: Brazilian financial year FY16 started from 01st Jan’16 and ends on 31st Dec’16
Leave a Reply