In‎‎ the ‎‎first three months of this year, the production of iron ore by Vale Mining Company in Brazil showed 6.1% growth compared to the same period last year due to increasing the sales and production of the main mines in northern Brazil. Production during this period was 70.84 million tons. Vale’s iron ore sales increased by 14.7% during this period and 63.83 million tons were recorded. ‎
This giant ‎‎mining ‎ expects its iron ore production to reach 310 to 320 million tons for the whole of 2024, which will be relatively similar to the previous year. It is worth mentioning that the average price of Vale iron ore in the first quarter of the year fell 15% from the previous quarter; $100.7 per ton fob was recorded.