Vale´s production Report for the second quarter of 2020 (2Q20) was announced on Monday, July 20th. Vale faced a challenging 2Q20, which combined the efforts to ramp up production, affected by COVID-19, with strong measures to protect our employees and support communities amid the pandemic.
Iron ore fines production accelerated towards the end of the quarter, totalled 67.6 Mt, with June production at 25.1 Mt, a 23% increase in comparison to the previous 5-month average, as it enters a seasonally stronger period with growing run rates. Sales volumes of iron ore fines and pellets reached 61.6 Mt in 2Q20, 8% below production, mainly due to logistics lead time between production and CFR sales, with part of 2Q20 production on the move for sale in the coming quarter.
Vale’s guidance for iron ore fines production in 2020 is unchanged, at 310-330 Mt. Vale’s guidance for pellet production in 2020 was revised to 30-35 Mt from 35-40 Mt.
Vale remains cautious amid the COVID-19 pandemic, fully committed to the safety measures adopted at its sites and the resumption and stabilization of production under the highest safety conditions.