Vale’s president Gustavo Bimonta said on Thursday that Donald Trump’s increase in government fees would not have an immediate impact on Vale, but the secondary impacts of global economic activity were linked.
“We have gained this experience in the past (with the Trump government). We have to see where it ends and what levels are increasing. We are not selling ore to the United States. But it has side effects. No impact, but we are constantly monitoring, “he said.
In an interview at the headquarters of the mining company in China, he spoke to journalists, Bhimanta, this year’s need to have a slight growth or related to the diversification of the economy.
“They (China) have good performance this year, over 5%of the growth, demands a billion tonnes of steel. More than 1 billion tons of China must be followed with stronger production speed,” Bimonta said.
He recalled that the demand of the Asian country had a very strong dependency in the real estate segment, which was significantly declined, but compensated by the manufacturing and infrastructure sectors.
“This has made the Chinese iron ore requirement uniformly, and we see other markets accelerating. There are other growing markets against the year against the year, which makes it balanced by 2025,” the administrator quoted India, especially India.
Pimeenta said the current iron ore prices respond to the balance market and if the quotes were less than $ 90, about 150 million tonnes would no longer be paid worldwide and the price would be fixed.
“We see that the current prices are responding to a market in balance. I think it is difficult to imagine the big structural variations at this time. We think today is $ 90 long -term balance price,” the CEO said. “Below $ 90, (production) about 150 million tonnes of ore is economical.”
Solid performance
The leader of the fence was defined by the company’s performance in 2024 as “solid”, and that he is satisfied with the decisions achieved by the administration so far. “I am happy in the results that we have reached so far. We have completed 2024 with solid performance. We have reached the frequency rate of wound and reached 57% of the upstream dam decarcitation program.
He also referred to Mariana’s accident signature and compensation agreements.
Pimement also highlighted plans to add 30 million tonnes of low iron ore to represent the plans of Kabanema and Vargem Grande in Minas Zeroys.
In the second quarter of this year, he said the company wanted to review the Vale Base Metals (VPM) assets focusing on approximate minerals such as nickel and copper.
Bmita also emphasized the attention of the administration to improve capital expenditures, which are associated with the decrease in orientation and the reduction in Capex.
On Wednesday, 19, the new investment predictions for Vale 2025 fell from $ 6.5 billion to US $ 5.9 billion, which was $ 2 billion earlier in $ 1.6 billion, and investment in the maintenance of $ 4.3 billion, 4 billion, 4 billion, 4 billion, 4 billion in maintenance. From dollar to $ 4.5 billion.
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