By Jeffrey T. Lewis

 

SAO PAULO--Brazilian iron-ore mining giant Vale SA said Monday it had resumed loading operations at its Teluk Rubiah Marine Terminal in Malaysia May 16 after securing the resources it needed to operate it safely.

The terminal, which distributed 23.7 million metric tons of iron ore last year, shut down March 24 because the company wasn't able to ensure safe operation of the installation amid the coronavirus pandemic.

The company reported in April that it suffered little impact in the first quarter from the outbreak of the coronavirus in Brazil and around the world, but it revised its iron-ore production guidance for 2020 to 310 million metric tons-330 million tons, down from 340 million tons to 355 million tons after missing its production target for the first quarter.

The reopening of the Teluk Rubiah terminal won't impact the output guidance for this year, but it will increase the company's operational flexibility and strengthen its value chain, Vale said.

 

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com

 

(END) Dow Jones Newswires

May 18, 2020 08:54 ET (12:54 GMT)

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