Vale’s Iron Ore Output Climbed to a Six-Year High in 2024
- Fourth-quarter output of steelmaking material missed estimates
- Brazilian miner’s own annual output tops rival Rio Tinto
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Brazilian miner Vale SA churned out 327.7 million metric tons of iron ore in 2024, the highest in six years, though fourth-quarter production came in slightly below expectations.
Annual production was 2% more than the 321.2 million tons mined in 2023, the company said Tuesday in a statement. Last year’s total marked the highest output since a 2019 mining disaster at Vale’s iron ore operations in southeastern Brazil triggered yearslong disruptions. Vale’s record year was 2018, when it produced 384.6 million tons.