Top iron ore miner Vale will cut the cost of producing the commodity to less than $13 per tonne by 2018 from nearly $16 currently, an official said on Wednesday, keeping the Brazilian company as the world's lowest-cost producer. "Vale is progressing to reach the lowest cash cost of the industry and will be competitive at any price scenario," Claudio Alves, global director of marketing and sales at Vale, told an industry conference.
