Brazilian miner Vale SA said on Thursday it produced a record 349 million tonnes of iron ore in 2016, above its own guidance, helped by the successful ramping up of its new S11D mine in the Amazon.

The world’s largest producer of iron ore had guided that output would be at the lower end of a range of 340-350 million tonnes. Vale said it produced 92.4 million tonnes in the fourth quarter of 2016.

Source: Reuters (Reporting by Stephen Eisenhammer; editing by Jason Neely)