Vale is reporting a solid second quarter with exceptionally strong performances in nickel production as well as copper production. Also, the Brazilian mining company said it was pleased to report increases in iron ore production.
Vale's second quarter was marked by solid performance across all business segments, said a company news release.
Second quarter highlights showed a steady increase in iron ore production, and an even better spike in copper production.
But the shining star of the Q2 report was nickel, reporting a 44 per cent year over year spike, thanks to strong performances in Canada and at the Onco Puma mine in Brazil, said the company.
For Canadian nickel production, Vale reported the following:
• Sudbury: own-sourced finished nickel production increased by 5.5 kt year over year, supported by a combination of productivity improvements at the Clarabelle Mill, a 35 per cent increase in mine output year-over-year and lower planned refinery maintenance year-over-year.
• Voisey’s Bay: own-sourced finished nickel production increased by 6.2 kt year-over-year, driven by the 121 per cent increase in underground mines output, contributing to record quarterly production at the Long Harbour refinery.
• Thompson: own-sourced finished nickel production increased by 2.3 kt year-over-year, supported by stronger mine output and higher refining output from both the Sudbury and Long Harbour refineries.
For Canadian copper, Vale said copper production increased by 4.3 kt year over year, largely reflecting the continued ramp-up from the underground mines in Voisey’s Bay and consistent copper output from Sudbury mines.
More complete details from the second quarter report are available online.
