Vale produce 86.2 Mt iron ore in 1Q17

2017-07-20

July 20, 2017 - Vale’s iron ore production reached a record for a first quarter of 86.2 Mt in 1Q17, 8.6 Mt higher than in 1Q16 mainly due to the ramp-up of the S11D and Itabiritos projects in the Southeastern System. Production was 6.2 Mt lower than in 4Q16 due to usual weather-related seasonality in the first quarter of the year, which affected mainly the performance of the Northern System.

The production guidance for 2017 remains within the 360-380 Mt range as previously announced and from the end of 2018 onwards Vale will most likely achieve the long-term base case target of 400 Mt, as per Vale’s presentation at the December 2016 “Vale Day”.

Vale’s Global Recovery (GR)2 increased from 44% in 1Q15 to 49% in 1Q16 and to 51% in 1Q17, as a result of the continuing increase in operational productivity over the past few years.