Brazil's Vale Iron Ore Output Falls in Second Quarter
July 21 2016 - 8:23AM
Dow Jones News
By Rogerio Jelmayer
SÃO PAULO -- Brazilian mining giant Vale SA saw a slight decline
in its production of iron ore in the second quarter, while the
price of the commodity has recovered this year.
Vale, the world's largest iron-ore mining company, on Thursday
said it produced 86.82 million tons of the commodity in the
April-to-June period, down 2.8% from a year earlier, when it
reached a record. Compared with the first quarter, the company's
production of iron ore increased 12%.
So far this year, iron ore prices have increased more than
20%.
Meanwhile, Vale produced increased amounts of nickel and copper
production in the second quarter.
Also the world's largest nickel producer, Vale's output of that
base metal rose 17% in the second quarter to 78,500 metric tons.
Production of copper was up 2.4% in the quarter at 107,400
tons.
Conversely, the company's coal output dropped 25.2% in the
quarter to 1.5 million tons.
Write to Rogerio Jelmayer at
rogerio.jelmayer@wsj.com<mailto:rogerio.jelmayer@wsj.com>
(END) Dow Jones Newswires
July 21, 2016 08:08 ET (12:08 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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