VALE's Q2 Iron Ore Output Up 2% Y/Y, Copper and Nickel Lags

Pellet production declined 2.4% year over year to 8.9 Mt. This was attributed to lower pellet feed availability at the Vargem Grande plant and maintenance at the São Luis plant. Copper Output Dips, Nickel Plunges During the quarter, the S11D mine delivered record production of 19.5 Mt, bolstered by ongoing asset reliability initiatives. In the second quarter, Vale produced 78.6 kt of copper, which was 0.3% lower than the year-ago quarter. Improved productivity at Salobo's 1 & 2 plants, as well as Sossego, w ...