São Paulo – Pellet production at the Brazilian mining company Vale’s Oman plant increased in quarter one (Q1) this year from Q1 2014. Production declined in Q1 from Q4 2014. As per the Q1 2015 production report issued by the company this Wednesday (22nd), iron ore processing volume also grew to the highest Q1 numbers ever. <\/p>\n
Vale reports that from January to March this year, it produced 74.5 million metric tons of iron ore, up 4.9% from Q1 2014. Factoring in production by Samarco and ore purchased from third parties, production reaches 77.4 million tons. <\/p>\n
Pellet production at the Oman unit reached 1.895 million metric tons, up 2.9% from Q1 2014. In Q1 2015 from Q4 2014, however, production was down 20.8%. According to Vale, this was due to scheduled maintenance at the unit, located in the Sohar industrial complex. The facilities comprise two ore pelletizing plants and one distribution center. <\/p>\n
Total pellet production reached 11.3 million metric tons, up 14.7% from Q1 2014.<\/p>\n
Extraction and processing of other ores by the company also increased early this year. The report says copper production reached 107,200 tons, up 21.1% from Q1 2014. Gold production was up 9.7% to 103,000 ounces (equivalent to 2.920 tons). Nickel production amounted to 69,200 tons, the best Q1 performance ever. <\/p>\n
Output declined for other products. Charcoal production dropped by 5.1% from Q1 2014, to 1.7 million tons. Production of ferroalloys declined by 40.6% to 27,000 metric tons due to the fact that manufacturing units in Brazil’s Minas Gerais state went offline. “In Q1 2015, ferroalloy production at Minas Gerais plants was shut down because the operation was rendered economically unfeasible after the end of existing energy contracts and rising energy costs,” the company said. <\/p>\n
As of 4:32 pm this Wednesday, both preferred and ordinary shares (with voting rights) were up at the São Paulo Stock Exchange (Bovespa). Preferred shares were up 9.81% to R$ 16.46. Ordinary shares went for R$ 19.53, up 10.15%.<\/p>\n
*Translated by Gabriel Pomerancblum<\/strong><\/p>\n