"Vale considers the seasonal impact of the rainy season in all operations, and therefore reiterates its iron ore production guidance of 320-335Mt for 2022," Vale said. 

In making the announcement, Vale said it had partially resumed its operations in Minas Gerais after it advised the market on January 10 that the rainfall had led to the suspension of rail shipments. 

"In the Southeastern System, the trains transit on the Estrada de Ferro Vitória a Minas railway has been resumed on the Rio Piracicaba-João Monlevade stretch, thus allowing the gradual expedition of Brucutu and Mariana complex's production," Vale said, noting that there are no longer production sites halted in this system due to the rains. 

"The BH branch line, which is responsible for general cargo transportation, is halted, and logistic alternatives are being evaluated for the definitive resumption of the branch line and for the expedition of general cargo while the branch line remains halted," the company said. 

Meanwhile, about half of the capacity of the Southern System was gradually resumed over recent days, while more capacity will be brought back online in the coming days, Vale said.