Samarco anticipates 10% increase in pellet production in 2023

Samarco, a joint venture between Vale and BHP, expects production of iron ore pellets to reach 8 to 9 million tonnes (mnt) in 2023, an increase of up to 10% compared to 2022, according to a company press release.

The company's production in 2022 is set to reach 8.1 mnt, up 5.2% as against 2021. Samarco has total production capacity of about 30 mnt per annum, implying it is currently operating at 26%. It is expected to reach 60% capacity in 2025 and 100% in 2028.

Furthermore, the company expects to invest 1.6 billion reais ($301 million) in 2023, with 721 million directed to advanced de-characterisation works. The return of full production capacity is expected to take place gradually and reliably until 2028.

According to a statement, the miner has invested more than 1.1 billion reais this year to sustain operations and decommission its tailings dams.