Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Vale's head of iron-ore said on Monday the Brazilian miner is replacing 25-million tonnes per year of higher-cost iron-ore production with new, cheaper tonnes, which should lower Vale's costs as it battles a slump in the price of iron-ore. Despite removing higher-cost production, Vale is maintaining its 2015 output target of 340-million tonnes, executive Peter Poppinga said on the sidelines of a steel conference in Sao Paulo.
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