quinta-feira, 18 de fevereiro de 2016

VALE HITS RECORD AND PRODUCES 345.9 MILLION TONNES OF IRON ORE



Vale produced record amounts of iron ore, nickel, copper, cobalt and gold as it battled a slump in global metals prices by boosting output in search of greater market share.
Fourth-quarter iron ore production rose 2.4 percent year on year to 88.4 million tonnes, its largest ever fourth-quarter total, the company said on Thursday.
Vale iron ore output faces seasonal swings as the level of rain helps or hinders mining and transport activities. Vale plans to release fourth-quarter financial results on Feb. 25.
The result pushed full-year 2015 output to 345.9 million tonnes, another record, helping to maintain Vale's place as the world's largest producer of the steelmaking ingredient.
Along with Australian rivals BHP Billiton Ltd and Rio Tinto Ltd, Vale has moved to ramp up output of iron ore in the face of a 28 percent drop in prices in the past year and 75 percent over five years.

Vale and its rivals are betting on their lower costs and higher volumes pushing out smaller rivals and stabilizing prices even as demand slows in China, the world's largest steelmaker and iron ore buyer.

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