[Brazil] - Vale's Iron Ore Production Soars to Six-Year High, Boosting Brazil's Mining Sector

INSUBCONTINENT EXCLUSIVE:
The company reported output of 90.97 million tonnes in the third quarter of 2024.This figure represents a 5.5% increase compared to the same
period last year
also saw growth, reaching 81.838 million tonnes in the third quarter
This marks a 1.6% rise from the previous year
The company reported a notable increase in nickel production as well
Nickel output rose by 11.9% compared to the third quarter of 2023
This diversification helps Vale maintain a strong market presence across multiple commodities.The mining giant has updated its production
guidance for 2024 in light of these positive results
Vale now expects to produce between 323 and 330 million tonnes of iron ore for the full year
Economic uncertainties and concerns about market oversupply also affect the industry
watch its performance