Vale SA unit Vale Moçambique Ltda. intends to increase annual coal production to 20 million tonnes by 2021, Macauhub reported Nov. 9, citing the unit's CFO Marcelo Tertuliano.
Tertuliano added that the company will need favorable market conditions, and an improved cost structure to ensure its sustainability.
The company recently revised down the coal production guidance for 2018 to 12 Mt, from 15 Mt previously, and said it is reviewing coal mine plans and operations at the Moatize project in Mozambique to ensure a sustainable ramp-up from 2019 onwards.
In the third quarter this year, coal production fell 0.6% year over year to 3.2 Mt, while sales were up 1.5%.
