Vale Exceeds Iron Estimates, Keeping Annual Record in Reach
- Global production was 86.8 million tons in the second quarter
- Brazil-based miner lowers its guidance for 2017 production
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Vale SA, the world’s biggest iron-ore miner, reported output that exceeded analysts’ estimates, keeping a new annual production record in sight.
Second-quarter iron-ore output was 86.8 million metric tons including third-party purchases, the Rio de Janeiro-based company said Thursday in a statement. That beat the 86 million tons estimated on average by five analysts surveyed by Bloomberg.