Brazil: Vale trims year-end production capacity guidance to 343 mn t

Vale SA, the second-largest iron ore producer in the world at present, has revised down its guidance for end-2021 production capacity to 343 mn t/annum from 350 mn t previously. During a call with analysts on 29 Jul’21, Vale declared that the issues hindering production were licensing problems at the Sistema Norte and Mutuca assets in Brazil as well as temporary restrictions on the disposal of mining waste at the Itabira mine. However, the miner has kept its 2021 production guidance of 315-335 mn t unchanged.