Vale's total iron ore output was 308 million tonnes in 2022, a year-on-year decrease of 1.6%, mainly due to the delay in licensing approval of Serra Norte and jaspilite waste processing and operational performance at S11D, the company said in its latest quarterly report.

The following factors partially offset the above impact: continued production ramp-up at Vargem Grande, higher dry processing production at Brucutu, and higher third-party purchase, it said.

Vale's iron ore output reached 80.85 million tonnes in the fourth quarter of 2022, a year-on-year decrease of 1.0% and a quarter-on-quarter fall of 9.9%.

Northern system production was impacted by increased rainfall and lower production at Serra Norte. Southern System and Southeastern System production was also fell due to seasonal rainfalls in Minas Gerais region. Additionally, the former was affected by lower third-party purchases and the latter affected by maintenance of mining equipment in Alegria.

During the given period, Vale's iron ore sales stood at 81.20 million tonnes, dipping 0.7% from a year ago but rising 24.2% from the preceding quarter.

In 2022, Vale's pellets production totaled 32.11 million tonnes, a year-on-year increase of 1.3%.

Vale targets to produce 310-320 million tonnes of iron ore, and 36-40 million tonnes of pellets in 2023, it said.

(Writing by Emma Yang  Editing by Tammy Yang)
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