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(Kitco News) - 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.
The company said that pellets production increased 20% y-o-y to 8.3 million tonnes, driven by higher availability of pellet feed and lower maintenance activities.
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.
The company expects to offset this impact in the second half of the year keeping its annual sales plan unchanged.
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.
Nickel production decreased 10% y-o-y to 41 ktonnes mainly due to the continued transitioning of Voisey's Bay mine to underground operations and slightly longer scheduled maintenance at Matsusaka refinery compared to 1Q22.
The company noted that Sudbury mines had strong performance in the quarter, reaching ore production rates of 11.8 ktpd in March, the highest rate since 2017, adding that nickel sales were strong with up 3% y-o-y growth.
Vale is the largest producer of iron ore, pellets and nickel. The company also has operations in manganese, ferroalloys, copper, gold, silver, and cobalt.
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