Brazilian miner Vale’s iron ore production between November and January grew 15% from a year earlier, rising faster than in the October-December quarter, according to a presentation released by the firm on Monday.
Last month, Vale said its iron ore output, its main business, rose 10.6% in the fourth quarter of 2023 versus a year earlier, to 89.4 million metric tons.
In Monday’s presentation, prepared for a corporate event in the United States, Vale mentioned initiatives aimed to reduce seasonal impacts of heavy rains in Brazil on its iron ore operations at this time of year, such as to prevent flooding in railways transporting the commodity.
The period between November and March is usually impacted by seasonal challenges to Vale related to a higher volume of rain in the miner’s main operations, located in Para and Minas Gerais states.
The company’s iron ore production grew 4.3% in 2023 to 321.15 million tons, topping its own estimate for the year. It expects to produce between 310 million and 320 million tons of iron ore in 2024.
(By Marta Nogueira and Andre Romani; Editing by Marguerita Choy)
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