Vale SA, Brazil's leading iron ore producer, announced that based on its second quarter 2024 performance, it expects to reach the upper end of its year-end production targets. The company reported a 2.4% year-on-year increase in iron ore production to 80.6 million tons in the second quarter covering April-June 2024.
These results make it likely that Vale will reach its annual production targets of 310 to 320 million tons. The increase in the second quarter was driven by efficient operations, particularly at the S11D and Vargem Grande mining complexes in Brazil. These facilities achieved a 7.3% increase in iron ore sales, totaling 79.8 million tons, mainly supported by inventory sales.
Vale is expected to publish its second quarter financial results on July 25. This report is expected to provide more detailed information on the company's financial health and operational performance.
Comments
No comment yet.