Vale lowers Q1 2020 iron ore fines output guidance to 63-68mln tonnes

Brazil-based miner Vale has lowered its iron ore fines production guidance for the first quarter of 2020 after its operations were adversely affected by heavy rain, the company said on Tuesday February 11.

Vale said it was expecting to produce 63-68 million tonnes of iron ore fines in the January-March period, down by 5 million tonnes from an earlier estimate of 68-73 million tonnes.
The miner suffered production losses amounting to 1 million tonnes due to heavy rainfall at its mining operations in Brazil's southeastern region in January and February, according to its production report, released on Tuesday.
Despite this, Vale is maintaining its 2020 guidance at 340-355 million tonnes.
Vale did not give a guidance for sales in the first quarter in its latest announcement.

The miner said it produced 78.34 million tonnes of iron ore fines in the fourth quarter of 2019, a decrease of 22.4% from 100.99 million tonnes a...

Gold stocks gain even as metal price pulls back

Copper price forecast swinging significantly on shifting outlook

Upgrades continue for 2024 gold price target...

Gold stocks edge up as weak equities offset metal rise

Major investment banks make major gold price upgrades