Murilo Ferreira, the CEO of the Brazilian mining giant Vale said that the firm will achieve the target to produce 310 million tons of iron ore this year.
In the first half of this year, Vale produced 150 million tons of iron ore and the sales volumes were at 178 million tons.
Jos Carlos Martins, head of ore and strategy of Vale indicated that the average prices of iron ore were at US$103/ton in the second quarter of this year. Among them, the average selling prices of Carajas iron ore contain 62% Fe were at US$141/ton.
Mr. Martins pointed out that that since some mining enterprises postponed or reduced the production recently and planned to sell iron ore until the iron ore prices rebound, it may help Vale's sales volumes to rise in the second half of this year.