Brazilian iron ore and pellet producer Samarco has provided an operational preview for Q4 2024. The company reported a combined production of 2.9 million mt of iron ore and pellets, marking a 14% increase from the previous quarter and a 13% rise from Q4 2023. Sales volume reached 3.0 million mt, up 51% from the previous quarter and 13% higher than Q4 2023.
The realized price for the product mix was $139.0/mt, 6% lower than the previous quarter and 15% less than Q4 2023. For the entire year of 2024, Samarco produced 9.7 million mt of pellets and fines, a 4% increase from 2023 and a record since the restart of production after the Mariana dam accident in 2015.
Total sales in 2024 increased by 2% to 9.4 million mt, while the average realized sales price declined by 7% to $154/mt. Currently in judicial reorganization, Samarco is a joint venture between Vale and BHP.
