Brazil : Vale targets 310-320 mnt of iron ore output for 2023

Vale, the world's largest iron ore miner in Brazil, has expected to produce 310-320 million tonnes of iron ore in 2023, according to the company's latest release of its presentation to investors at the New York Stock Exchange on December 7.

The miner has also estimated its iron ore output to reach approximately 310 million tonnes this year, according to the release. Previously in the company's Q3 report, it kept its 2022 production guidance unchanged at 310-320 million tonnes.

During the first nine months of this year, Vale produced 226.9 million tonnes of iron ore fines in total, down by 1.9% from that in 2021, as reported. The mining giant's Q3 output increased by 21% quarter to 89.7 million tonnes, though.

For the longer term, Vale sees its iron ore production grow to 340-360 million tonnes in 2026 and more than 360 million tonnes after 2030, according to the release.

For 2023, Vale targets its iron ore pellets production to increase to 36-40 million tonnes, as against the output of about 33 million tonnes in 2022.

Over January-September this year, the miner's pellets output dipped by 1% on year to 8.3 million tonnes, as Mysteel Global reported.

As for base metals, Vale aims at nickel production of 160,000-175,000 tonnes in the coming year, down from its estimated annual output of 180,000 tonnes this year. And the miner will produce copper for 2023 between 335,000 and 370,000 tonnes, compared with about 260,000 tonnes in 2022.

Written by Lea Li, liye@mysteel.com

This article has been published under an article exchange agreement between Mysteel Global and SteelMint.