Brazilian mining firm Vale posted a 2.4pc year-on-year increase in iron ore production in the second quarter, boosted by higher output from its northern operations.
Vale produced 80.6mn t of iron ore during April-June, up from the 78.7mn t a year earlier. The year-on-year increase in output was attributed to "robust performance" at its S11D and Vargem Grande operations in Para and Minas Gerais states, respectively.
Vale's second-quarter sales stood at 79.8mn t, a 7.3pc increase on the year and up by 25pc from the previous quarter, owing to strong shipments and sales of stock carried over from previous periods, the company said.
Vale's pellet production in the second quarter fell by 2.4pc from a year earlier, to 8.9mn t, because of reduced pellet feed availability at its Vargem Grande operation and maintenance at the Sao Luis plant.
The company's realised price for iron ore fines stood at $98.20/t in the second quarter, down by 0.3pc year on year. Prices for iron ore pellet fell by 2pc on the year, to $157.20/t.
Vale produces high-grade Iron Ore Carajas fines from its northern system operations, while mid-grade Brazilian Blend fines are produced using ore from its northern and southern system operations.
