Vale Iron Ore Mining Increases Significantly In Q3

Brazilian miner Vale said Monday that third-quarter iron ore production reached a record 104.9 million tonnes, up 10.3% year-on-year.

This is reflected in a new report on iron ore and pellets sales of 98.2 million tonnes in the third quarter, up 4.7 million tonnes from the previous quarter in 2017.

“Premium products accounted for 79% of total sales in the third quarter and, together with the consolidation of Vale's product portfolio differentiation strategy, resulted in an improvement in quality and an average premium per tonne sold of $ 8.6 per tonne in the third quarter versus $ 7.1. per ton in the second quarter.

S11D was instrumental in increasing the share of premium products in sales, reaching another quarterly production of 16.1 million tonnes in the third quarter, up from 6.2 million tonnes in the third quarter of 2017.

The annual work, together with the restart of the San Luis plant in the third quarter, will bring Vale to an estimated production of 55 million tonnes in 2018 and 60 million tonnes in 2019, the company said.