Vales Says Boom on Minerals and Metal

Vale has reported a 42.9% increase in iron ore production, 252.5% in manganese ore, and 54.2% drop in copper.  While there is a 237% increase in pellet sales, 49.8% decrease in nickel, and a serious downfall in the nickel by-products of cobalt, gold, silver and PGMs during Q1 of 2009.

In the comment released by Vale,

“There is a very limited additional supply expected to come on stream this year and in 2011. However, it will have a minimal impact on Vale’s supply of iron ore in 2010, as it will be chiefly dedicated to offsetting some losses in our production capacity.  Going forward, we expect the iron ore market to remain tight for an extended period of time.”

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