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Print[Ferro-Alloys.com] Vale released PERFORMANCE IN 2Q19, in which it said:"We made substantial progress in 2Q19 concerning the 93 Mtpy of Iron Ore production stopped in 1Q19 with the resumption of Brucutu operations on June 22nd, 2019, recovering 30 Mtpy of production capacity, and the partial return of dry processing at the Vargem Grande complex, adding about 12Mtpy (5 Mt in 2019). Regarding the approximate 50 Mtpy currently curbed, we expect that about 20 Mtpy of dry processing production will be gradually resumed starting by the end of this year and the remaining 30 Mtpy, which includes wet processing, is estimated to return in about two to three years."
"Our proforma EBITDA (excluding the provisions and ongoing reparation expenses from the Brumadinho dam rupture) totaled US$ 4.6 billion in 2Q19, US$ 529 million higher than in 1Q19. The increase was mainly due to higher sales prices (US$ 822 million) and higher Ferrous sales volumes3 (US$ 742 million), which were partially offset by the increase in lost sales (US$ 644 million) and stoppage and extraordinary logistics expenses (US$ 204 million) related to Brumadinho. " (Vale)
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