), a metals and mining company, recently announced a mixed
production report for the first quarter 2013, including a
year-over-year decline in the iron ore performance.
Vale saw a year-over-year increase in production across some
of its products including manganese ore, coal, nickel, copper,
potash and phosphates in the first quarter 2013. However,
production of other items like pellets and iron ore experienced a
year-over-year decline during the period.
After experiencing a record fourth quarter iron ore
production, Vale's iron ore production for the current quarter
declined by 3.5% to 67.5 million metric tons. Impediments
pertaining to license delays and other operational issues brought
about the decline. Unlike last quarter, the N5 South mine in
Carajás did not perform in the reported quarter due to
However, Vale's diminished iron-ore production could not stand
in the way of its holding a record production in other segments.
The reported quarter witnessed a record production of coal,
increasing 16.6% year-over-year. Also, metallurgical coal reached
a peak, increasing 21.9%, along with thermal coal reaching the
highest level since the first quarter of 2009, with an increase
of 1.0%. This high rate of yield was a result of improved
performance in the mines of Australia, especially in its
Carborough Downs mine.
Two more mining companies,
Rio Tinto Plc.
BHP Billiton Plc.
), also declared their production reports this week. However, the
iron ore production for both increased in the reported quarter
ending Mar 31, 2013.
Vale is scheduled to release its first quarter 2013 earnings
results on Apr 24. This Zacks Rank #3 (Hold) stock has a Zacks
Consensus Estimate of 43 cents for the quarter. Another stock
worth a look in the mining industry is
), carrying a Zacks Rank #1 (Strong Buy).
BHP BILLITN LTD (BHP): Free Stock Analysis
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RIO TINTO-ADR (RIO): Free Stock Analysis
VALE SA (VALE): Free Stock Analysis Report
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