Vale iron ore production up 31% in Q3 CY20 amid recovery from COVID disruptions

Vale total iron ore fines' production in Q3 CY'20 was recorded at 88.7 mn t, up 31% compared to 67.6 mn t in Q2 CY20. This is due to record quarterly production at Northern system mines, record monthly production at S11D in September and overall improved performance at Itabira Complex and Timbopeba site after resumption in Q2 CY20.

The pellet output witnessed 21% rise on a quarterly basis to 8.6 mn t against 7.1 mn t in Q2 CY20. Vale's pellet output picked up due to higher availability of pellet feed, especially from the Itabira Complex, and improved operational performance at the pelletizing plants.

Vale total iron ore and pellet sales rose 20% for the quarter

Vale's total sales increased by 20 % to 74.2 in Q3 CY20 against 61.6 mn t in last quarter. Out of the total 74.2 mnt , 65.7 mn t were iron ore (sales up by 20% q-o-q) and remaining 8.5 mn t stood pellet (sales up by 21% q-o-q).

Key Updates:

• The Fabrica pellet plant operation resumption is expected in Q3 CY21.
  
  
• The Itabira complex capacity is expected to be increased from 26 mn t per year to 40 mn t per year by CY22.
  
  

Vale eyes 400 mnt iron ore output by early CY'23

The miner is on the track to produce 400 mn t of iron ore by the end of 2022 or early 2023, said company's CEO Eduardo Bartolomeo said. Currently, the company is producing about 1 mnt of ore daily.