Vale's iron ore production declines due to a system failure

Vale, the Brazilian multinational corporation, reported a 9.5% rise in iron ore production during Q3. However, there was a 3.9% decline compared to the same period the previous year, primarily attributed to a technical failure at its S11D mining complex, resulting in a production loss of approximately 2 million tons. Nevertheless, Vale managed to sell 69 million tons of iron ore in the July-September period, marking a 6.6% increase driven by favorable market conditions.

Additionally, the company witnessed a 9.8% boost in copper output, reaching 81,600 tons, which was achieved through enhanced production at its Salobo III project. The production forecast for copper output has been adjusted downward to a range of 315,000-325,000 tons, largely due to operational changes at the Coleman Mine in Canada and maintenance activities at the Salobo mine.