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Vale's Production Results For Q1-2012
= Only ferroalloys held on, otherwise dropped =
Vale of Brazil released on April 17 results of production and sales during the first quarter (July - September) of 2012. Excerpts covering the production results of manganese ore, ferroalloys, nickel and cobalt are as per the table attached hereto.

Production during the quarter of all the items except ferroalloys was down compared to the fourth quarter of 2011 when production steadily increased. Compared to the same quarter of 2011, only nickel and cobalt production increased.

(1) Manganese ore: Vale produced 484,000 tons (of ore) during the quarter, down by 36.1% from the preceding quarter. The drop in production is mostly because of the lower output bat each of the mines, i.e. at Azul, the biggest mine of Vale, down by 39.6% due to heavy rainfall and maintenance of the facilities, at Urucum, down by 16.4% due to the rainy season, and at Moro de Mina, down by 23.2% due to heavy precipitation.

(2) Manganese ferroalloys: Vale produced 106,000 tons of the alloys during the quarter, up by 0.1% from the preceding quarter. Production in Brazil as well as in Dunkerque (France) and in Mo I Rana (Finland) each maintained the level of the preceding quarter. Compared to the same quarter of 2011, production at Dunkerque dropped by 19.8% reflecting weaker demand. More details about the ferroalloy production are as follows, silico-manganese: 54,900 tons, high-carbon ferromanganese: 44,900 tons, medium-carbon ferromanganese: 6,300 tons.

(3) Nickel: Total quarterly production was 63,200 tons (of nickel content), down 7.8% from the preceding quarter. Production recovery at Sudbury steadily recovered while production at Voisy's Bay and at Sorowako declined, causing the quarter's production drop. The reason of the seemingly big drop in production at Voisy's Bay compared to the preceding quarter is that Q4 production was inflated due to some sales of nickel in concentrates rather than shipping it to Sudbury for further processing. The drop at Sorowako was due to furnace repair.

(4) Cobalt: Production (of cobalt content) as a by-product from nickel operations was 592 tons, down by 24.8% from the preceding quarter, mainly due to production stoppage to deal with safety issues.
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last modified : Wed 25 Apr, 2012 [11:54]
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