Vale slashes iron ore production, trims nickel output

摘要

Saying that it is "adjusting to the new global economic scenario," iron ore giant Vale (RIO-N) is dramatically scaling back its iron ore mining in Brazil in order to cope with an estimated 20 percent production cut by the world's steelmakers. Vale notes that, as a bulk product withlarge-scaleoperations.iron ore demands mine-railroad-port-maritime shipping integration and doesn't physically allow for substantial inventory buildup in expectation of demand recovery.