Brazilian miner Vale on Friday cut its forecast for production of iron ore fines and pellets, copper and nickel in 2020, saying in a securities filing that the new coronavirus outbreak was delaying some facilities from reopening.
Vale reduced its forecast for annual production of iron-ore fines to 310-million to 330-million tonnes from 340-million to 355-million tonnes previously. The company decreased its forecast for pellet production to 35-million to 40-million tonnes from 44-million tonnes.