Brazilian miner Vale expects iron ore production at its advanced S11D mine to reach 58 million tonnes this year, surpassing the official forecast of 50 million to 55 million tonnes, said a person familiar with the matter.
The expected increase is mainly attributable to sales of higher pollutant iron ore - along with iron ore as it showed strong demand, said a person who spoke this week. The source requested anonymity because the data is confidential.
When asked to comment, Valais confirmed the official forecast released in December.
The world's largest iron ore producer is still ramping up production at its S11D mine in the Amazon state of Para, which opened in December 2016.
Heavy capex on the project pushed Vale's debt, which coincided with a spike in iron ore prices. Vale currently expects the mine to produce 90 million tonnes of iron ore annually when it completes operations in 2020.
Vale Announces Key Outlooks for Iron Ore Production in 2018
|
Azovpromstal® 29 May 2018 г. 10:59 |
