Vale forecast to produce 200,000-210,000mt nickel in 2020. In 2019, Vale’s production of finished nickel was 208,000mt, down by 15pc from a year ago. Factors contributing to lower production included a reduction in feeds from third parties companies, lower ore from Thompson and New Caledonia and lower production at Onça Puma. Production was also impacted my maintenance downtimes at the refineries.
In December quarter (Q4), Vale’s total output of nickel was 56,700mt, down by 11.4pc from 64,000mt in the prior year. Sales volumes were 47,000mt, down from 59,600mt in the prior year as the company held inventories awaiting better market conditions.
In 2019, Vale produced 381,100mt, down by 3.6pc to 395,500mt due to unplanned maintenance at the processing plant in Sossego and the sales fell by 15.7pc to 878,000mt in the prior year. In Q4, total copper production was 90,300mt, down by 17.8pc to 109,800mt.
Vale posted a net loss of $1.68bn in 2019 amid challenging issues related to operations New Caledonia nickel mine, Mozambique coal mine and prolonged effects of Brumadinho dam burst in January 2019.