Vale's ?production in 1Q15 was marked by a strong operational performance in iron ore of 74.5 Mt – excluding iron ore acquired from third parties and Samarco’s attributable production – achieving the best performance for a first quarter, in particular for Carajás, which produced 27.5 Mt and also reached a new record for a first quarter.

 

In December 2014, we started the operation of the N4WS mine which will not only lead to further production increases but will also lead to a reduction in strip ratios and in average haulage distances in Carajás. N4WS is part of the N4W ore body, a world-class asset, with 1.346 billion metric tons of proven and probable reserves and an average Fe content of 66.5%.

 

Excluding Samarco’s attributable production of 3.5 Mt, Vale’s pellet production reached 11.4 Mt in 1Q15, in line with 4Q14 and 1.5 Mt higher than in 1Q14 due to the ramp up of the Tubarão VIII pellet plant.

 

In 1Q15, we shut down our ferroalloys plants in Minas Gerais as existing energy contracts expired and higher energy prices impaired the economic viability of the plants. Consequently, the production of our manganese ore operations in Morro da Mina was affected.

 

Production of nickel reached 69,200 t in 1Q15, the best performance for a first quarter. The quarter was marked by a record in nickel oxide and total nickel production at Vale New Caledonia (VNC), a record production from a single-furnace at Onça Puma and the positive progress in the ramp-up at Long Harbour.

 

In 1Q15, copper output was 107,200 t¹, 1.6% and 21.1% higher than in 4Q14 and in 1Q14, respectively, reaching a historical production record.

 

Gold production amounted to 103,000 oz in 1Q15, 9.7% higher than in 4Q14, reaching the best performance ever, due to the ramp-up of Salobo. Total coal output in 1Q15 was 1.7 Mt, 26.6% and 5.1% lower than in 4Q14 and 1Q14, respectively, due to the stoppage of the Integra Coal and Isaac Plains mines and an abnormal rainy season in Moatize.

 

¹ Including Lubambe’s attributable production.