Vale stockpiles Mn ore overseas in 2017

Vale’s manganese ore production in the first quarter of 2018 was 434,000 mt, down 21.5% from the fourth quarter of 2017 {M0M} (553,000 mt) and down 20.2% (544,000 mt) from the first quarter of 2017 {QoQ}.

Ore sales in the first quarter of 2017 were 338,000 mt, up 72.4% higher than in the first quarter if 2017 due to better river barge sailing conditions of Urucum ore and to the management decision to increase the offshore inventories in the first quarter of 2017 in order to achieve higher price realization in the following quarters of 2017.

Urucum mine output mine totaled 171,000 mt in the first quarter of 2018, in line with fourth quarter of 2017, and 4.9% higher than in first quarter of 2017 due to higher availability of run-of-mine, consequently increasing productivity.

Production at Morro da Mina was 29,000 mt in the first quarter of 2018, 26.1% higher MoM, mainly due to the maintenance stoppage in the fourth quarter, and 107.1% higher than in first quarter of 2017 due to the 40 days stoppage to clean the bottom of the pit.

Vale’s ferroalloy production totaled 45,000 mt in the first quarter of 2018, increasing 28.6% and 25%, MoM and YoY, respectively, due to the resumption of one furnace in Ouro Preto in September 2017 and maintenance stoppage in Simões Filho in the first quarter of 2017 and the fourth quarter of 2017.

First-quarter production was composed of 23,000 mt of silicomanganese, 18,000 mt of high-carbon ferromanganese and 4,000 mt of medium-carbon ferromanganese.

Sales in the first quarter of 2018 were 34,000 mt, in line MoM and 13.3% higher QoQ.

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