Vale - two to three years to meet previous production targets.
Good news for FMG and other miners. Demand to outstrip supply in the short to medium term
The Brazilian miner set aside provisions to cover legal costs and agreements with local authorities related to the Brumadinho dam rupture that left hundreds dead in January.
The company is taking steps to turn things around after its prospects dimmed. Last year, it was on pace to boost 2019 output to a record 400 million metric tons.
On Friday, Chief Financial Officer Luciano Siani Pires said it will take two to three years to meet that target.
The deadly disaster forced it to shut mines that account for almost a quarter of that goal.
https://www.bloomberg.com/news/articles/2019-05-09/vale-posts-first-loss-since-late-2015-after-fatal-dam-disaster
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