Vale's Iron Ore Production Up by 6% in Q3 2016

The well-known world's biggest iron ore producer, Vale has recently released its operational review of Q3 2016. According to the report, the miner produced 92.1 MnT iron ore in Q3 2016, up by 6% Q-o-Q in 2016.

In Q3 2016, miners' iron ore production was higher by 1.5% Y-o-Y due to improved performance at mines in the northern Amazonian state of Para.

Vale's mine named Carajas production was recorded at 38.7 MnT iron ore in Q3 2016, up by 5.9% as compared to Q2 2016 as it was 36.5 MnT. However, on Y-o-Y basis, production from Carajas in Q3 2016 registered a growth of 14.4%, as it was 33.8 MnT in Q3 2015.

The miner has maintained its iron ore production guidance and is expected to produce output in the lower limit of 340-350 MnT for this financial year.

Company's pellet production, excluding Samarco's attributable production, reached 2.1 MnT in Q3 2016, 20.1% higher than in Q2 2016 and in-line with Q2 2015.

Pellet production was up due to resumption of the Fabrica beneficiation plant in the Southern System and the higher feed availability for the Vargem Grande and Tubarao plants. The Tubarao 8, Tubarao 3 and Vargem Grande pellet plants achieved quarterly production records of 1.2 MT, 1.8 MT and 1.8 MT, respectively, in Q3 2016.

Note: Brazilian financial year FY16 started from 01st Jan'16 and ends on 31st Dec'16

Notification for Vale's operational review for Q3 2016