Vale's Q3 iron ore output falls 6% YoY, sales stable

Brazilian mining giant Vale produced 88.4 million tonnes of iron ore over the July-September quarter, lower by 6.4% compared with the same period last year, though the volume increased 4.9% from the previous quarter, according to the company's latest quarterly report released on October 29 local time.

The on-year decline was observed mainly in the company's Northern system, where production fell by a large 13.9% on year to 42.8 million tonnes. Particularly, the combined iron ore output from the Serra Norte and Serra Leste projects slumped 27% on year to 19 million tonnes in Q3. "The decline