Vale released their quarterly last night and the numbers especially when looking at the production breakdown of each mining complex on a "look forward basis" are simply awful.
Minas Centrais - This includes Brucutu mine of 30mtpa . The other mine "Agua Limpa" I understand was depleted back in 2016
Mariana (Algeria, Timbopeba and others) - Algeria halted 20th March (10mtpa), On March 15th, 2019, Timbopeba mine production was halted (15mtpa).
Vargem Grande - Closed on Feb 20th (13mtpa)
Itabirito - Fabrica 3mtpa
WHile Nth system will likely replicate the 52mtpa going forward and perhaps more due to ramp up of s11d,
Looking forward:
Minas Centrais - Minus 5K
Mariana - Minus 5K
Paraopeba - no change
Vargem - Minus 2.5K
Mina Itabrito - Minus 1K
Nth Eastern Rnges- Plus 5K
Revised production - ABout 64mt per quarter
Its run rate is around 275mtpa. Remember that prdocution would have been at nameplate for the first month of the year and potentially a couple of weeks in Feb given reserves on hand.
Shortfall IMO is in excess of 100mtpa from Vale.
Iron ore price, page-12226
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