Vale says incident at terminal not affecting iron ore supplies

Vale says incident at terminal not affecting iron ore supplies

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Brazilian miner and iron ore producer Vale denied this week an analyst forecast that a fire at company’s terminal would affect iron ore supplies.

As previously reported by SteelOrbis, analysts at BTG Pactual said the fire at a company’s terminal on January 14 would “cast doubt” over Vale’s ability to deliver on its iron ore guidance for 2021.

Vale said the terminal has an iron ore exporting capacity of 230 million mt/year, three piers, five berthing docks and eight ship loaders. Vale said the incident affected the terminal’s No. 6 ship loader, also known as CN6, but the terminal has another ship loader, the CN7, which wasn’t impacted. Vale said it expects to resume exports next week.

“There will be no impact on the monthly iron ore shipment schedule, due to the Northern System production seasonality, the rainy season in the North of Brazil, and the Northern System expected production for 2021, (which is) below the shipping capacity of 230 million mt/year,” the company said.

Vale expects to conclude maintenance activities at its CN6 loading ship by the first half (H1) of 2021.

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