Vale Resumed Operations at Teluk Rubiah Terminal After Securing Safety Resources
May 18 2020 - 9:09AM
Dow Jones News
By Jeffrey T. Lewis
SAO PAULO--Brazilian iron-ore mining giant Vale SA said Monday
it had resumed loading operations at its Teluk Rubiah Marine
Terminal in Malaysia May 16 after securing the resources it needed
to operate it safely.
The terminal, which distributed 23.7 million metric tons of iron
ore last year, shut down March 24 because the company wasn't able
to ensure safe operation of the installation amid the coronavirus
pandemic.
The company reported in April that it suffered little impact in
the first quarter from the outbreak of the coronavirus in Brazil
and around the world, but it revised its iron-ore production
guidance for 2020 to 310 million metric tons-330 million tons, down
from 340 million tons to 355 million tons after missing its
production target for the first quarter.
The reopening of the Teluk Rubiah terminal won't impact the
output guidance for this year, but it will increase the company's
operational flexibility and strengthen its value chain, Vale
said.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
May 18, 2020 08:54 ET (12:54 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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