Vale’s Ni output rises 11pc after furnace rebuild

Market: Metals
16/04/25

Brazil-based mining group Vale's nickel production rose in the first quarter by 11pc from the same period last year, when the company's Onça Puma mine's furnace was being rebuilt.

Total nickel production rose to 43,900 metric tonnes (t) in the first quarter, up from 39,500t a year earlier, Vale said Tuesday.

Brazilian operations produced 5,400t of finished nickel in the quarter, compared to none a year earlier.

Canadian nickel production rose by 18pc to 20,000t, as Voisey's Bay's output climbed on the year by 47pc to 6,500t and Thompson mines output surged by 51pc to 3,600t. Higher production was intended to build inventories ahead of scheduled maintenance at its Canadian refineries during the upcoming quarters, Vale said.

Vale plans as much as five weeks of maintenance at its Creighton mine in the third quarter, with shorter outages scheduled for Thompson and Long Harbour stretching into the fourth quarter.

Nickel sales volumes stood 5pc below production at 38,900t but marked an 18pc increase from a year earlier.

Vale's nickel prices averaged at $16,100/t in the quarter, down by 4.4pc year-on-year, reflecting lower London Metal exchange (LME) prices.

Isabel Filgueiras

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