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Vale iron ore sales in 2019 to drop by 50-75 million tonnes-The 20th China (Guangzhou ) Int’l Casting product Exhibition
4/12/2019 - casting expo-Die-casting expo-foundry expo |
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Brazilian mining firm Vale is forecasting that its iron ore sales will fall by 13-20% in 2019, equivalent to a drop of 50-75 million tonne, after it halted some operations following a tailings dam collapse in January. Sales are likely to be around 307-332 million tonne in 2019, down from 382 million tonne last year.
Iron ore production is suspended at Vale''s Feijao, Vargem Grande and Fabrica complexes, as well as the Brucutu, Timbopeba and Alegria mines. The total production loss in 2019 is expected to be around 93 million tonne, including a loss in pellet feed production equivalent to 11 million tonne of pellet capacity. Production at its new S11D mine will likely be around 80 million tonne this year Vale produced around 385 million tonne of iron ore in 2018.
The company has so far declared force majeure only on pellet contracts. Vale said it will suspend diversion of pellet feed into making some niche products and ensure most of it is used to make pellet
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