Brazilian mining company Vale has increased its iron ore output projection but lowered its nickel output forecast for 2024.
The company expects to produce 323mn-330mn t of iron ore this year, up from the 310mn-320mn t projected in the second quarter of this year.
But it expects to produce less nickel this year, putting production at 153,000-168,000t, down from the 160,000-175,000t previously projected.
The reduction in Vale's nickel output forecast follows the completion of its partial divestment in PT Vale Indonesia (PTVI), it said today.
