Brazilian multi-metal miner Vale has revised its 2020 nickel production guidance to 200,000-210-000 tonnes per year from 240,000 tpy previously amid its projected "exit" from the Vale New Caledonia (VNC) operations, the company announced on Tuesday February 11.
The lower 2020 production guidance comes after Vale indicated that operations at VNC would cease entirely at the end of April 2020 while the company looks to review its strategy in the region, not precluding the possibility of selling the asset. Vale first expressed its intention to "exit" its VNC operations at its Vale Day at the New York Stock Exchange on...