Brazilian miner Vale expects iron ore sales volumes in 2019 to be cut by 50-75 million tonnes, from a previous internal, undisclosed target of 382 million tonnes of sales during the year, chief financial officer Luciano Siani said on Thursday March 28 in a conference call with analysts.
The reduction will be caused by the mine closures that ensued after an accident at the C??rrego do Feij??o unit, Siani added. Further developments should settle the extent of the reduction.Sales volumes would, then, be reduced to 307-332 million tonnes during the year, compared with 365.6 million tonnes of iron ore and pellets in 2018.A tailings dam rupture at Feij??o on January 25, prompting the company to halt operations where the waste material structures operated on the upstream method, the same method as was used by the dam that failed.Work at the...