Vale reports Q1 iron ore output 69.68M metric tons vs 67.67M last year

Iron ore production totaled 69.7 Mt, 3% higher y/y, supported by record output at S11D and Brucutu, as well as the continued ramp-up of the Capanema and VGR1 projects. Pellet production reached 8.2 Mt, increasing 14% y/y, driven by improved performance at the Tubarao pelletizing plants. Iron ore sales increased by 4% y/y, totaling 68.7 Mt, in line with higher production volumes. Copper production totaled 102.3 kt, 13% higher y/y, driven by record output at Salobo and Sossego as well as a solid performance at Voisey’s Bay polymetallic mines. Nickel production totaled 49.3 kt, 12% higher y/y, driven by the full-quarter operation of Onca Puma’s 2nd furnace and stable operations at Voisey’s Bay underground mines, which supported a first-quarter production record at the Long Harbour refinery.