RIO DE JANEIRO--Brazilian mining giant Vale SA reported record
first-quarter production volumes of iron ore, nickel and other
commodities as several mines ramped up despite the sharp downturn
in global metals markets.
The world's largest iron-ore producer, Vale churned out 77.4
million metric tons of the steelmaking material, up 4.5% from a
year earlier. The figure includes 2.9 million tons of ore that Vale
bought from third parties.
Vale's iron-ore output was aided by the newly opened N4WS mine
in its sprawling Carajás complex in the Brazilian Amazon. The mine
began operating in December and contributed to an 18% rise in
Carajás production during the first quarter.
Output of iron-ore pellets, a concentrated form of iron-ore that
sells at higher prices, rose 15% to 11.4 million tons.
Vale's nickel output rose 2.5% to a first-quarter record of
69,200 tons.
Copper production surged 21% to 107,200 tons, also a record,
thanks to the ramp-up of Vale's Salobo mine in northern Brazil. The
Salobo mine also contributed to a record gold output of 103,000
ounces, up 39% on the year.
Coal output fell 5.1% to 1.7 million tons.
Write to Paul Kiernan at paul.kiernan@wsj.com
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