The well-known world’s biggest iron ore producer, Vale has recently released its operational review of Q4 15 and for 2015. According to the report, the miner produced 345.9 MnT iron ore in 2015, still maintaining Vale’s place as the world’s largest producer of the steelmaking ingredient.
The fourth quarter iron ore production by company is recorded as 88.4 MnT, its largest ever fourth quarter total.
Vale’s mine named Carajas produced 129 MnT iron ore in 2015, up by 8.2% prior last year as it was 119.7 MnT in 2014. On the other side, fourth quarterly production from Carajas complex i.e. Q4 15 is recorded at 36.5 MnT, 2.6 MnT higher than Q3 15.
On the other hand, annual shipments by the company is recorded at 303.6 MnT in 2015, up by 6.6% as compared to 2014 as it was 284.7 MnT.
Earlier, in Q3 15 the company had shutdown few of its less efficient benefication plant’s operations at various locations like Feijo, Jangada etc, because of which the company aimed to produce around 340 MnT in 2015. But, in competition with other rivals to produce more lower cost output, the company produced highest levels of iron ore in 2015.
World’s top three iron ore producers viz Vale, Rio Tinto and BHP are on the track to raise their production with more low cost output. More inflow of low cost output has led to oversupply of iron ore, but low demand in major consumer of iron ore namely China will clearly result in a glut, which will push global prices further.
Note: Brazilian financial year FY15 started from 01st Jan’15 and ends on 31st Dec’15
Notification for Vale’s quarterly operational review for 2015
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