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Company’s Mining Sector CFO Says Vale Will Reach Significant Production Capacity by 2026
According to Luciano Siani, the current CFO of the mining company Vale, the company is expected to reach 450 million tons of iron ore production capacity by around 2025 or 2026. The mining company ruled out the possibility of commodity surpluses in the market, which will put pressure on iron ore prices.
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The CFO stated, “We will be responsible; we will not flood the market with iron ore,” in a virtual interview. “The intention is not to dump excess capacity into the markets to reach the 450 million tons. It is to have available capacity to meet market needs if necessary.”
Mining in the North:
For this, Luciano emphasized that Vale faces the challenge of obtaining operating licenses in the northern region, which allows mining companies to operate at full capacity even during rainy periods.
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If the licenses are granted, the region will produce 230 million tons of ore annually. Once this phase is completed, Vale will still need to add another 30 million tons of production, which is already in the development phase.
Siani highlighted the recovery of the company’s dams, but to reduce dependence on these structures, Vale is investing in the development of filtration processes, which will be an alternative to the full resumption of operations at Brucutu, Itabira, and Vargem Grande.
About Vale:
With operations, offices, explorations, and joint ventures across five continents, Vale is the second-largest mining company in the world. Headquartered in Brazil and operating in about 30 countries, the company employs approximately 200,000 people, including both its own professionals and contractors.
It is the world’s largest producer of iron ore and the second-largest producer of nickel. It also produces copper, coal, manganese, ferroalloys, fertilizers, cobalt, and platinum group metals. It is also active in the Logistics, Steelmaking, Energy, and Fertilizers sectors.
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