Brazil's Vale loses iron ore market share after Brumadinho dam disaster
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Update time : 2020-06-10 15:19:16
According to market participants, after the Brumadinho dam disaster in January 2019, the Brazilian miner Vale’s global iron ore market share lost a lot, and the accident also caused Vale’s iron ore output to fall by about 70 million tons.
In 2019, Vale’s iron ore production was 301.9 million tons, down by 21.5% from 384.6 million tons in 2018. The amount of iron ore sold to China was expected to be flat year on year.
Recently, Vale has also revised its production target for iron ore this year from 340-355 million tons to 313-330 million tons.
