Vale reports best-ever financial performance for first quarter

Despite adverse weather conditions and natural disasters, Vale reported pellet output reached a record 12.5 Mt. for the first quarter of the year, up 19.3% from 10.5 Mt reported during the same period of last year.

Iron ore production in the first quarter reached 71.5 Mt., a 3.7% increase over the same quarter of 2010. “For 2011 we continue to pursue the goal of 322Mt including the 11 Mt attributable production from Samarco,” the company said.