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Vale cuts 2022 iron ore, copper production outlook

Brazilian mining giant Vale has trimmed its 2022 iron ore and copper production guidance by about 4% and 19% at the mid-points in a move that sees the company implementing its “value over volume” strategy for the former while shutdowns and poor plant performance weighed on the latter.

 Vale iron ore

Vale iron ore

Vale, which along with Western Australian giants Rio Tinto, BHP, and Fortescue Metals Group, dominates global iron ore supply, has lowered its guidance for production of the commodity to 310 million-320...

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