Vale posts highest annual iron ore output since 2018 despite fourth-quarter slide
Vale reported an output of 85.3 million metric tons in the three months ended in December.
Vale reported an output of 85.3 million metric tons in the three months ended in December.
The miner has lost its rank as Brazil’s third-largest publicly traded company.
Operations within the Thompson nickel belt have been producing since 1956.
In calendar 2024, Fortuna produced 369,637 oz. of gold plus 3.7 million oz. of silver, for a record gold-equivalent production of 455,958 oz.
Cosan has unloaded some 173 million shares it owned in the mining giant.
The contract will be signed in March is effective for 10 years, Vale said on Wednesday.
Vale's shares in Brazil fell by more than 23% in 2024.
The partnership includes studies on the feasibility of a direct reduction plant to be operated by GreenIron in Brazil.
The company reached an agreement with local authorities to pay up to some 11 billion reais to renegotiate two railway concession contracts.
The firm, Electrified Thermal Solutions, owns technology for heating industrial furnaces through electricity, without the use of fossil fuels.
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