Vale’s Fourrous to operate a total of nine ports in China in 2022

Vale’s executive vice president of Ferrous, Marcelo Spinelli, said that the company will operate a total of nine ports in China next year.

In a presentation on the New York Stock Exchange called Vale Day, Spinelli highlighted that this port operation will bring more flexibility and maximize the effects on the fleet of ships used by Vale, strengthening the relationship with the company’s customers in the Asian country. Spinelli highlighted that the company remains committed to reaching a production capacity of 400 million tons per year.

Spinelli highlighted the company’s goal, announced today, of reaching a production capacity of 370 million tons of iron ore by the end of next year. At the end of this year, he recalled, the capacity will be 341 million tons.

In terms of production, the company’s expectation is to close next year between 320 million and 335 million tons extracted from iron ore. The executive pointed out that at the beginning of 2022, the company’s biggest gain will not come from the increase in ore volumes, but rather from the advance in product quality.

“We are going to improve quality. Our biggest impact at the beginning of the year will be on quality,” said Spinelli.
The vice president of Ferrous also pointed out that the cost of iron ore production from Vale to the port will be between US$ 15.5 and US$ 16 per ton in 2023. For this year, the expectation is that production costs will stay at about $17 per ton.

Source: Valor Econômico

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https://valor.globo.com/empresas/noticia/2021/11/29/vale-em-2022-vamos-operar-um-total-de-nove-portos-na-china-diz-vp-de- ferrous.ghtml

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