Vale’s Q1 iron ore production drops due to heavy rains in Brazil

Iron Ore reclaimer machine and stockpile

Dazman/E+ via Getty Images

Vale (NYSE:VALE) said late Tuesday it produced 67.7M metric tons of iron ore in Q1, down 4.5% from the year-earlier quarter, hampered by heavy rainfall at its Brazilian Northern mining complex.

In its quarterly production and sales report, the company

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