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Vale’s new CEO wants to increase iron ore production

Thursday, 10 October 2024 02:28:45 (GMT+3)   |   Sao Paulo
       

Gustavo Pimenta, the new CEO of the Brazilian miner Vale, unveiled during a conference with analysts this week that one of the focus of its administration will be the increase of the iron ore production by the company.

Today’s target production of Vale for iron ore is in a range of 323 to 330 million mt per year, while Pimenta envisages a range of 340 to 360 million mt per year, although he did not establish a deadline for the increase.

He mentioned that there is nothing so far that could change the investment plans, adding that the company must increase the focus on high quality products, while searching for increased efficiency and productivity.

Vale has lost its position as the world’s largest iron ore producer due to the accidents with the tailings dams of Mariana and Brumadinho, in the southeastern state of Minas Gerais, which have not only reduced the company production, but also raised environmental and safety concerns for the return of the lost production capacity.

The other focus unveiled by Pimenta for its administration is to improve the communication of the company with authorities and with the public in general.


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