Posted on 04 Dec 2024
Brazil's Vale expects its iron ore fines output to increase steadily, reaching nearly 360 million tonnes by 2030, Kallanish notes. This growth will primarily come from advancements in operations at the S11D, Itabira and Brucutu complexes.
For 2024, Vale has revised its production forecast upwards, projecting 328mt, compared with the previous estimate of 310-320mt. Output is expected to rise further to 325-335mt in 2025 and 340-360mt in the following years.
The company is also prioritising improvements in iron ore quality. The average Fe content of its material is projected to increase from the current 62.3% to approximately 64% over the next six years.
Vale’s iron ore agglomerate production is anticipated to follow a similar growth trajectory, rising from 38mt in 2024 to 60-70mt by 2030.
Investment is set to grow alongside production. Vale estimates capital expenditure at $6.1 billion in 2024, increasing to $6.5 billion in 2025. Of this, $3.5-4 billion will be allocated to its iron ore solutions units.
Source:Kallanish
