Markets

Vale On Track To Deliver 2020 Iron Ore Production Guidance

(RTTNews) - Vale S.A. (VALE) said, in second quarter, production across the company's businesses faced some impacts due to the COVID-19 pandemic. Iron ore fines production accelerated towards the end of the quarter, with June production at 25.1 Mt, a 23% increase in comparison to the previous 5-month average. Vale's guidance for iron ore fines production in 2020 is unchanged, at 310-330 Mt, assuming the lower end of the guidance as the most likely scenario. S11D reached a run-rate of 91 Mtpy in June, which is likely to improve in second half towards an annual production slightly over 85 Mt. Vale's guidance for pellet production in 2020 was revised to 30-35 Mt from 35-40 Mt.

The company also announced the appointment of Denis Cuenca as Chief Compliance Officer. He will be responsible for the compliance office, including the integrity department, the internal audit and the whistleblower channel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

VALE

Latest Markets Videos

RTTNews

Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Learn More