Vale plans to increase coal production

Valemininggroup said in a statement that it will increase coal production in the second half of 2020, and its moatize coal mine in Tete province of Mozambique is expected to produce 15 million tons per year. In the statement, Vale group announced that it will maintain moatize coal mine for three months in 2020, and then "adopt a new operation mode to improve coal production efficiency and output". "The company's expectations for metallurgical and power coal revenues have changed due to technical problems compared to the original coal project expectations," the statement said It is understood that Vale group has coal projects or partners in Australia, Mozambique and other countries, but its loss in the field of coal this year reached US $1.6 billion. To this end, Vale group revised its production plan.