Vale’s net profit in the second quarter reached US$7.586 billion
Introduction: In terms of basic metals business, Vale Brazil has achieved important milestones in a number of projects, including the Reid Brook mine, an expansion project located in the Voiseys Bay mining area in northern Labrador, Canada. The first batch of nickel ore was produced in June this year.
Recently, Brazil’s Vale Corporation released its production and sales report and financial report for the second quarter of 2021. The report shows that Vale’s formal adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) in the second quarter was 11.239 billion US dollars, setting a new record for the company; net profit reached 7.586 billion US dollars, an increase of 20.40 from the first quarter. One hundred million U.S. dollars. In the basic metals business, many projects have reached important milestones, including the expansion project at the Voiseys Bay mining area in northern Labrador, Canada-Reid Brook Mine, which has been completed in June this year. The first batch of nickel ore was produced every month.
The report shows that in the second quarter, Vale’s iron ore output increased by 11% month-on-month, mainly due to better weather conditions, mining plans and the implementation of new projects. Since the Dongling mining area has achieved full production capacity, the current annual production capacity of Vale’s iron ore has reached 330 million tons. If this production level can be sustained, it is expected that the average daily output of Vale iron ore will reach 1 million tons in the second half of 2021. .
In terms of basic metals business, in the second quarter, Vale’s nickel output was 41,500 tons, a decrease of 14.3% from the first quarter, mainly due to the company’s Sudbury plant labor disruption and Clydach nickel Unplanned maintenance at the refinery affected Vale’s total production of finished nickel. However, the expansion project of the Reed Creek Mine successfully produced the first batch of nickel ore, which is an important achievement for Vale in continuously supplying high-quality, predictable and responsible raw materials to the market. Copper output was 73,500 tons, a decrease of 3.9% from the first quarter. This was mainly due to the interruption of labor at the Sudbury plant and the delay in mining at the Voys Bay mining area, which affected Vale’s copper output to a certain extent. As mine maintenance work continues, the availability of equipment at the Salobo plant is increasing, and the mining situation is gradually improving. The plant’s mining volume has increased by 31.2% from the first quarter. Copper production is expected to continue to improve in the second half of 2021.
Link to this article：Vale’s net profit in the second quarter reached US$7.586 billion
Reprint Statement: If there are no special instructions, all articles on this site are original. Please indicate the source for reprinting:Alloy Wiki，thanks！^^
