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Vale profit falls, but it expects to produce more nickel and copper
['Star Staff']
Sudbury Star
Vale expects to produce more nickel and copper – key metals mined in Sudbury – as the Brazil-based mining giant announced a 35 per cent drop in second-quarter net profit.
Reuters said Vale posted net profit of US$1.38 billion for the April-to-June period, down from a year earlier and below the US$1.85 billion expected by analysts surveyed by LSEG.
Vale profit falls, but it expects to produce more nickel and copperWe apologize, but this video has failed to load.
For nickel, Vale forecast production of 185,000 to 200,000 tonnes, also raising the bottom end of its outlook range by 10,000 tonnes.
The site includes five underground mines, one open-pit mine, a mill, a smelter, and a refinery producing nickel, copper, cobalt, platinum group metals, gold, and silver.