Iron ore miner Vale has announced it intends to recover 44mn mt of halted capacity by 2021.
To make its determination, the Brazilian company used an entire calendar year of full capacity activities at its Vargem Grande, Fábrica, Timbopeba, and Brucutu mines, it said in a statement, adding that resuming and stabilizing iron ore production is essential for the company.
Vale also said expects to increase its production from 390mn mt to 400mn mt in 2022.
Vale has revised its production guidance for 2020 to 310-330mn mt of iron ore fines, 35-40mn mt pellets, and 360,000- 380,000mt of copper. Its nickel production, excluding Vale New Caledonia, is expected to reach 180,000-195,000mt.