The Brazilian miner dug up 83 million tons of the ore in the final three months of 2014 to take full-year output to 319.2 million tons.
It took production past the 312 million tons the company had forecast, thanks in part to a 2% year-on-year rise in the fourth quarter.
Sluggish shipments from Brazil have been blamed for the terrible capesize market, with Arctic Securities noting Vale’s second half production was up by only 1.3%.
