Vale Soars and Aims to Increase Iron Ore Production for 2022, Between 320 and 335 Million Tons

Written by Roberta Souza

Published on 30/11/2021 at 16:43

Updated on 30/11/2021 at 17:47

Foto: reprodução google

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The Mining Company Forecasts Production Between 320 and 335 Million Tons of Iron Ore in 2022

In a statement on Monday (29), the mining company Vale S.A. announced that the new projection for next year is to produce between 320 million and 335 million tons of iron ore. The announcement was made during an investor event in New York.

The estimated capital spent to achieve the goal for the period is US$ 5.8 billion. According to the company, the estimated average for the coming years is US$ 5 billion to US$ 6 billion, considering an average exchange rate of 5.00 in 2023.

For 2021, the target was revised to 315-320 million, whereas it was previously expected to be between 315-335 million. Despite the decrease, the company will begin to increase iron ore production again after a decline in 2020 due to mine shutdowns for safety reviews.

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Vale’s Production of Other Metals

Vale also announced projections for base metals.

For copper, the estimated production is between 330-335 thousand tons of copper in 2022; 390-420 thousand tons between 2023 and 2026; and above 450 thousand tons after 2027.

For nickel, it is estimated to produce between 175-190 thousand tons from 2022 to 2023 and more than 200 thousand tons after 2024.

EBITDA (earnings before interest, taxes, depreciation, and amortization) in 2023 is expected to be between US$ 16.5 billion and US$ 24.0 billion. This will depend on the annual average iron ore price and its sales volume, as well as the price variations of copper and nickel, and the average annual exchange rate.

In the presentation, Vale reported that 2021 was a challenging year for base metals, with a broad safety and strategy review, in addition to delays in maintenance due to the COVID-19 pandemic.

Vale Soars and Aims to Increase Iron Ore Production for 2022, Between 320 and 335 Million Tons

The Mining Company Forecasts Production Between 320 and 335 Million Tons of Iron Ore in 2022

Vale’s Production of Other Metals

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Vale Soars and Aims to Increase Iron Ore Production for 2022, Between 320 and 335 Million Tons

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