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Brazil's Vale eyes big pickup in iron ore output next year
October 26, 2017 / 2:46 PM / 24 days ago

Brazil's Vale eyes big pickup in iron ore output next year

RIO DE JANEIRO (Reuters) - Brazilian miner Vale (VALE5.SA) will ramp up iron ore production to 390 million tonnes next year and 400 million tonnes in 2019, executives at the world’s top iron ore producer said in a call following results on Thursday.

The company, whose third quarter earnings surged but missed estimates, also said it sees iron ore prices above $65 per tonne next year.

Reporting by Marta Nogueira and Alexandra Alper; Editing by Chizu Nomiyama

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