Iron ore price, page-22378

Analysts are talking about a slump in IO next year, as production comes back on line. That's great. Clearly, they have no idea about the impact of a pandemic like this on a country like Brazil. Can you believe that there are local elections in cities like Parauapebas at the moment? Ques are round the block, and there is zero social distancing. In fact, voting is compulsory, and there are heavy fines for not voting. Anyway some people are upset with the Mayor, Darci Lerman, and can't wait to vote.

So how long will it take Parauapebas, Para state and Brazil to recover? In my view- at least a year. Just forget about a downturn in IO prices. Remember all those voices shouting that Brazil was going to recover from Brumadinho in late 2019 and flood the market in early 2020? Now they are talking second half CY20 as recovery time. In my view, Vale won't even make their lowest 310 Mt target in CY20, and moreover, shouldn't even be trying. They should be focusing on suspending operations in Northern Para and pushing for another local lockdown. That would help.

Hospital Yutaka Takeda, Vale's hospital for mine workers and their families in Carajas City, just 15ks from the Serra Sul mine, is being inundated with COVID 19 patients.


The unit implemented actions to provide emotional support to its employees. Hospital Yutaka Takeda, Carajas City, Para

"Health professionals who are working to combat Covid-19 are among the most vulnerable to the emotional and psychological consequences of this pandemic.Facing exhaustive routines to care for infected patients, fear of continuous contact with the disease and, in many cases, distance from the family, the protection of these professionals' mental health is paramount." Article from the hospital, 19.6.20.