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Samarco expects iron ore pellet production to increase in 11% in 2023

Brazilian miner Samarco Mineracao expects production of iron ore pellets to reach 8 million to 9 million tons in 2023, a company executive said Monday, an increase of up to 11% this year.

Samarco expects iron ore pellet production to increase in 11% in 2023

Brazilian miner Samarco Mineracao expects output of iron ore pellets to reach 8 million to 9 million tons in 2023, a company executive said Monday, an increase of up to 11% this year.

Production in 2022 is planned to reach 8.1 million tons, a 5.2% increase over 2021.

Samarco, a joint venture between Vale and BHP, has a total production capacity of approximately 30 million tons per year, meaning it is currently operating at 26%. The expectation is to reach 60% capacity in 2025 and 100% capacity in 2028.

The estimates come after the mining company resumed operations in December 2020, after a five-year shutdown following the collapse of one of its tailings dams in November 2015.

“Re-entering the market has not been difficult. We have strategic partners and we are doing a good job strengthening commercial partnerships. Samarco has always been very close to its customers,” said Sergio Mileipe, the firm's director of operations.

Samarco expects to invest $301 million in 2023, with just under half of that being diverted to decommissioning the tailings dams.

As of November this year, the miner has invested more than $2.12 million to maintain operations and disable tailing dams.

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