Brazil: Vale to Resume Iron Ore Operations in Alegria Mines
World’s largest iron ore miner- Vale informed yesterday through its press release that miner has got necessary authorization from the National Mining Agency to resume the operations of the Alegria Mine operation that has been halted since Mar'19.
Authorization allows the restart of approximately 8 MnTPA of the 50 MnTPA of previously halted production, as presented in the 3Q19 performance report, and enables the partial resumption of dry processing at the Alegria Mine, while approximately 42 MnTPA of iron ore production capacity remains suspended.
Vale expects that the increase in production will be up to 1 MnT in 2019, not impacting expected sales volume this year.
Vale in its recently released third quarterly (3Q) report reduced iron ore and pellet sales guidance for the year 2019. The miner has revised the guidance to lower and midpoint of the range 307-332 MnT as against being towards the midpoint of the range.
Vale witnessed the rise in iron ore and pellet production for third quarter CY19 to 97.8 MnT, up 34% as against 73.2 MnT in Q2 CY19.
source: SteelMint
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