Posted on 19 Oct 2022
Brazilian miner Vale has reported a sharp increase in its output of finished nickel during the third quarter of this year, Kallanish learns.
“The improvement was mainly explained by the recovery of production followed a maintenance period in Q2 and the conclusion of the furnace No. 4 upgrade at the Indonesian unit,” Vale observes.
Vale produced a total of 51,800 tonnes of finished nickel during Q3. This volume was 51.5% higher on-quarter and also 71.5% more on-year.
Its Canadian operations - including Sudbury, Voisey’s Bay, and Thompson - produced almost 20,000 t in the period, which is 24.2% more on-quarter and a growth of 61.3% y-o-y. Brazil’s Onça Puma production was 7.9% and 209.1% higher respectively on-quarter and y-o-y at 6,800 t. Meanwhile, finished nickel output from Vale’s Indonesian unit reached 19,200 t, up 111% q-o-q and also 27.2% higher y-o-y.
Vale’s nine-month production was 131,800 t, or 9.7% more compared to January-September 2021.
In 2022, Vale expects production to reach around 175,000-190,000 t.
The company’s nickel sales totalled 44,300 t in the quarter, representing a 12.7% increase q-o-q and 6% more y-o-y. The quarter growth is mainly explained by an inventory strategy to fulfil sales commitments following a series of planned maintenance at Long Harbour and Matsusaka in Q4. Logistics issues at Onça Puma resulting from low availability of containers at Vila do Conde during the quarter and shipping congestion at the UK ports are expected to resolve in the next quarter, Vale confirms.
Source:Kallanish
