Brazilian mining giant Vale increases iron ore and copper production in first quarter
- Brazilian mining group Vale announced on Tuesday that in 1Q23, its iron ore production increased 6% y-o-y to 66.8 million tonnes due to a stronger performance at S11D and better weather conditions in Minas Gerais.
Vale added that iron ore fines and pellets sales decreased 7% y-o-y due to loading restrictions in the Northern System during the rainy season and supply chain rebalancing after strong sales in 4Q22. Vale’s copper production increased 18% y-o-y to 67 ktonnes, largely attributed to the improved operational performance of Sossego mine and the steady ramp-up of Salobo III. Copper sales were up 21% y-o-y, in line with higher production.
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