Production overview
In 2014, manganese ore production was slightly lower  and  the  output  of  ferroalloys  was  2.6% lower than in 2013.

Production of manganese ore, on a quarter-on- quarter basis, reached 723,000 t in 4Q14, the best performance for a fourth quarter since 4Q04.

Manganese ore production
Output from the Carajás Azul manganese mine increased by 6.6% when compared to 3Q14, reaching 513,000 t in 4Q14, as a result of the recovery of ore from the tailing dams.

In 4Q14, output from Urucum reached the record of 177,000 t, 12.0% higher than in 3Q14 and 51.1% higher than in 4Q13, mostly driven by operational improvements   carried   out   in   its   beneficiation plant in 4Q13.

Since  4Q13,  we  have  been  processing  dumped ore due to the geological conditions in the north section of Morro da Mina. We expect to return to normal levels of production during 1H15 by exploring the south section of the mine.

Ferroalloys production
Production  of  ferroalloys  was  in  line  with  3Q14 and 18.5% lower than in 4Q13 due to a decision to shut down furnaces and sell energy.

Ferroalloy quarterly production was comprised of
21,000    t    of    ferrosilicon    manganese    alloys
(FeSiMn), 15,100 t of high-carbon manganese alloys (FeMnHc) and 4,800 t of medium-carbon manganese alloys (FeMnMC).

• [Editor:Sophie]