Business
Rio Tinto iron ore on track as Brazil flounders again – The Australian Financial Review
Australia’s biggest iron ore exporter had its best start to a year since 2018 and iron ore prices will be bolstered by weak output from Brazilian miners.
Vale produced 68 million tonnes in January-March, below the 72 million tonnes expected by analysts.
Perhaps more importantly, Vale only sold 59.2 million tonnes in the period.
Vales sales lagged its production rates last year and management had vowed sales would keep pace wth production at the mines in 2021.
The early signs suggest Vale is struggling to deliver on that promise.
On the contrary, Rio relied on its stockpiles in WAs Pilbara region to ship 1.4 million tonnes more iron ore than it dug…
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