July 21, 2017 - Vale’s iron ore production achieved a record for a second quarter of 91.8 Mt in 2Q17, 5.6 Mt higher than in 1Q16 mainly due to the better operational performance in the Northern System and the weather-related seasonality. Production was 5.0 Mt higher than in 2Q16 due to the S11D ramp-up in the Northern System and the ramp-up of new beneficiation and crushing facilities in the Southeastern System.

 

Production will therefore be within the lower end of the 360-380 Mt guidance range for 2017, in line with the ongoing strategy to maximize margins. Vale reaffirms its long-term base case target of 400 Mt of total production per year.  

Vale’s Global Recovery increased from 45% in 2Q15 to 46% in 2Q16 and to 50% in 2Q17, with an estimate of 51% for 2017.

 

Vale produced 178.05 Mt iron ore in the first half of 2017, up 8.32% than the same period of 2016.