Brazilian miner Vale produced 86.23 million metric tons of iron ore and 9.18 million metric tons of pellets during the third quarter of 2023, 3.9% and 11.1% less, respectively, compared to the third quarter of 2022.

Compared to the second quarter of 2023, iron ore and iron pellets production increased by 9.5% and 0.7%, respectively.

According to the company, production during the third quarter was negatively affected by lower mine production from the Paraopeba complex and lower production from Sierra Norte.

The company said that the overall quality of the ore improved due to higher production at S11D and higher pellet feed production from Procoto, with the operation of the Tortue Dam, which led to an increase in pellet production by 11% year-on-year.

Vale reported that iron ore sales reached 69.71 million tonnes in the third quarter of 2023, while pellet sales reached 8.61 million tonnes respectively, 10.1% higher and 2.2% lower than in the second quarter of 2023, and 6. 6% and 1.1%, respectively, compared to the third quarter of 2022.

Average FOB sales prices during the third quarter were $105.1/tonne of iron ore and $161.2/tonne of pellets, representing an increase of 6.7% and 0.5% over the previous quarter.