- Vale (VALE -2.3%) reportedly expects iron ore production at its SD11 mine in Brazil to reach 58M metric tons this year, higher than its official forecast of 50M-55M metric tons.
- The expected increase is due mainly to selling more "canga," or iron ore with a higher grade of contaminants, since it has shown strong demand, according to the report.
- Vale has said it expects the mine to produce 90M metric tons/year of iron ore when it completes its rampup in 2020.