Our Production Report for the fourth quarter of 2014 was disclosed today, Thursday, February 19. The document presents an overview of our operations in this period.
Vale’s own iron ore production, excluding iron ore acquired from third parties and Samarco’s attributable production, reached the record of 319.2 Mt in 2014, 19.4 Mt higher than in 2013 and 7.2 Mt higher than our guidance for 2014.
Download our 4Q14 Production Report and read about our performance.
See highlights of some of our businesses in the infographic:
Iron ore and pellets
In 2014, Carajás achieved the production record of 119.7 Mt, representing an increase of 14.8 Mt in relation to 2013. On a quarterly basis, Vale’s iron ore production – ex-Samarco´s attributable production – was 83.0 Mt in 4Q14, a new record for a fourth quarter.
Excluding Samarco’s attributable production of 12,1 Mt, Vale’s pellet production reached 43,0 Mt in 2014, 0.8 Mt lower than the target for the year. Pellet production was 10.2% higher than in 2013 as a result of the start-up of the Tubarão VIII and the ramp-up of the Oman pellet plants.
Our iron ore mines are concentrated in Brazil, where we also operate pelletizing plants. We have two pelletizing plants in Oman and stakes in pellet production joint ventures in China.
Production of nickel reached 275,000 t in 2014. This is Vale´s highest annual production since 2008 despite being short of our annual guidance of 289,000 t. Nickel production reached 73,600 t in 4Q14, 2.1% and 8.4% higher than in 3Q14 and in 4Q13, respectively. Production in 4Q14 achieved a new record despite the operational issues in Sudbury in 4Q14.
We have nickel mines and operations in Brazil, Canada, Indonesia and New Caledonia. We also have refineries – solely owned and through joint ventures – in China, South Korea, Japan, the United Kingdom and Taiwan.
Vale achieved 8.6 Mt of coal production in 2014, 1.4% lower than in 2013 and 2.1 Mt lower than our our guidance of 10.7 Mt for the year, mainly due to the worse performance of Carborough Downs (CD) and the stoppage of the Integra Coal mine in the 2H14. Production of metallurgical and thermal coal was 6.4 Mt and 2.2 Mt, respectively.
We are present in Australia and Mozambique, the two countries that are set to contribute most to growth in global coal supply in the coming years. We also have stakes in two joint ventures in China.
Copper production achieved the new annual record of 379,700 t in 2014. Production was 25,300 t lower than our guidance for the year, mainly impacted by tie-ins between Salobo I and II as we continue to ramp-up the second line of Salobo. In 4Q14, copper output was 105,400 t, 0.6% and 11.4% higher than in 3Q14 and in 4Q13, respectively, reaching a historical production record.
We produce copper in Brazil, Canada and Zambia. Our Brazilian operations are located in Carajás, where they benefit from our pre-existing logistics infrastructure for transporting iron ore.
Production of potash totaled 492,000 t in 2014, at the same level of last year and 8.9% lower than our guidance of 540,000 for the year, mainly due to the depletion of the mine. In 4Q14, potash production totaled 147,000 t, 5,1% higher than in 3Q14, as a result of the resumption of production after corrective maintenance carried out on the conveyor belts in 3Q14. Output was 16,4% higher than in the same period of last year due to a maintenance stoppage occurred in 4Q13.
Phosphate rock output was 8.4 Mt in 2014, 1.7% higher than in 2013, due to the good performance of Bayóvar, and just 0.2 Mt lower than our target for the year.
We produce fertilizer production inputs in Brazil and Peru. We are also developing projects in Mozambique and Canada.
4Q14 Financial Report
On Thursday, February 26, we will release our 4Q14 Financial Report. After the report has been released, some of our key executives will participate in webcasts with investors and journalists to present the quarter’s results.