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Reuters: Vale sees SD11 mine topping iron ore output forecasts

May 25, 2018 10:33 AM ETVale S.A. (VALE) StockVALEBy: Carl Surran, SA News Editor8 Comments
  • 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.

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