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Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Brazilian mining company Vale S.A. (NYSE:VALE) (Rio de Janeiro) closed the year with solid iron ore and copper production volumes despite some setbacks in the fourth quarter.
Vale produced 328,000 tons of iron ore throughout 2024, the highest yearly pace since 2018, surpassing the original guidance for the year set between 310,000 and 320,000 metric tons. This was the result of operational stability and the startup of key projects.
During the fourth quarter, the company faced some setbacks. It produced 85,000 tons of iron ore, about 4.6% less than in the previous year, due to prioritized production from high-margin products.
However, this did not prevent the company from reaching a yearly solid iron ore output, thanks to the production record from the S11D mine in the Northern System, which had an output of 83,000 metric tons, or 10.7% higher year on year. The company achieved such a record due to its optimized maintenance strategy.
The Southeastern System iron ore projects also registered a solid performance, led by Minas Centrais, which had a volume of 28,000 metric tons, or about 12.7% more year on year. This was the result of the commissioning of Brucutu's fourth processing line, which led to the strongest quarterly outputs since 2019. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Plant Database can click here for the Brucutu plant profile.
The Brazilian company has set an iron ore production guidance of 325,000 to 335,000 metric tons for this year.
Meanwhile, copper production remained solid last year and within the expected volume at 348,000 tons, a 6.6% increase compared to 2023. This was the outcome of the Salobo complex reaching a record annual production of 200,000 metric tons of copper, 10.8% higher than in 2023. Vale achieved this record following better operations at Salobo 1 and 2 and the completion of the Salobo 3 ramp-up. Subscribers can click here for the Salobo plant profile.
The company's copper production across its four Canadian assets also edged 4.5% higher year on year to reach an output of 83,000 metric tons.
This year, Vale projects a copper output between 340,000 and 370,000 metric tons.
Finally, the company's nickel output was 3% lower year over year, closing with a production of 160,000 metric tons in 2024, just enough to meet the guidance for the year.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Vale produced 328,000 tons of iron ore throughout 2024, the highest yearly pace since 2018, surpassing the original guidance for the year set between 310,000 and 320,000 metric tons. This was the result of operational stability and the startup of key projects.
During the fourth quarter, the company faced some setbacks. It produced 85,000 tons of iron ore, about 4.6% less than in the previous year, due to prioritized production from high-margin products.
However, this did not prevent the company from reaching a yearly solid iron ore output, thanks to the production record from the S11D mine in the Northern System, which had an output of 83,000 metric tons, or 10.7% higher year on year. The company achieved such a record due to its optimized maintenance strategy.
The Southeastern System iron ore projects also registered a solid performance, led by Minas Centrais, which had a volume of 28,000 metric tons, or about 12.7% more year on year. This was the result of the commissioning of Brucutu's fourth processing line, which led to the strongest quarterly outputs since 2019. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Plant Database can click here for the Brucutu plant profile.
The Brazilian company has set an iron ore production guidance of 325,000 to 335,000 metric tons for this year.
Meanwhile, copper production remained solid last year and within the expected volume at 348,000 tons, a 6.6% increase compared to 2023. This was the outcome of the Salobo complex reaching a record annual production of 200,000 metric tons of copper, 10.8% higher than in 2023. Vale achieved this record following better operations at Salobo 1 and 2 and the completion of the Salobo 3 ramp-up. Subscribers can click here for the Salobo plant profile.
The company's copper production across its four Canadian assets also edged 4.5% higher year on year to reach an output of 83,000 metric tons.
This year, Vale projects a copper output between 340,000 and 370,000 metric tons.
Finally, the company's nickel output was 3% lower year over year, closing with a production of 160,000 metric tons in 2024, just enough to meet the guidance for the year.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
