LatinNews Daily - 17 July 2024

*Brazilian mining company Vale has released its production figures for the second quarter of 2024, showing 80.6m tonnes (t) of iron ore produced. This marks a 13.8% quarterly rise and a 2.4% increase from Q2 2023. In its latest report, the mining giant highlighted the “consistent performance” of the S11D iron mine in the northern state of Pará, which registered record production figures for the second quarter. However, results for other products were not as strong as iron ore. Iron pellets production came to 8.9m t, up 5.1% in quarterly terms but down 2.4% in yearly terms. Copper production in Q2 2024 was 78,600 t, down 4.0% from the previous quarter and 0.3% from Q2 last year. Nickel production registered 27,900 t, down 29.4% in quarterly terms and 24.4% in yearly terms. Vale attributed the lower results for copper and nickel production to maintenance works in its processing facilities, such as the Sudbury mining complex in Canada.