Vale, Brazil's largest mining company, posted a 4.3 percent increase in iron ore production over the previous year, despite global glut. The company stepped up its production from October to December, which seriously hurt other manufacturers and destroyed small competitors.
The iron ore giant, headquartered in Rio de Janeiro, produced a record 345.9 million tonnes during 2015. The increase in iron ore output came despite the suspension of its joint venture Samarco with BHP following the tragic dam break on November 5 at Mariana in Brazil. The disaster killed 19 people at the mine and production fell 39 percent to 6.3 million tonnes in the fourth quarter.
“To compensate for this loss of production at the Mariana complex, measures were immediately implemented to improve productivity in other operations,” the company said in a press release. As a result, Vale's 2015 iron ore output exceeded its target.
Vale is also a major global nickel producer and increased nickel output to 82,700 tonnes in the fourth quarter, up 12 percent from the third quarter. Copper output rose 6.7 percent. The company plans to release financial results on February 25th.
Vale ends 2015 with record production
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Azovpromstal® 20 February 2016 г. 12:24 |
