Brazil-based miner Vale has lowered its iron ore fines production guidance for the first quarter of 2020 after its operations were adversely affected by heavy rain, the company said on Tuesday February 11.
Vale said it was expecting to produce 63-68 million tonnes of iron ore fines in the January-March period, down by 5 million tonnes from an earlier estimate of 68-73 million tonnes.The miner said it produced 78.34 million tonnes of iron ore fines in the fourth quarter of 2019, a decrease of 22.4% from 100.99 million tonnes a...