Vale's 2023 nickel output drops 8% on year to record low

The world's second-largest nickel supplier Vale experienced an 8% on-year decline in nickel production in 2023, with the total volume of 164,900 tonnes hitting a record low, though the volume still roughly meetsthe miner's annual guidanceof 165,000 tonnes, according to its latest quarterly report released on January 29 local time.

During the final quarter of 2023, Vale produced 44,900 tonnes of nickel, reflecting a 5.3% decrease compared to the same period in the previous year but a 6.7% increase from Q3 2023. The decline in nickel production was expected due to the transition to underground mining at Voisey's Bay and