April 28 (Reuters) -
* Brazilian miner Vale said on Thursday that production of 340 million tonnes of iron ore is the best option in terms of maintaining margins at current prices for this year
* Vale said it does not want to take up its option to buy a stake in Fortescue FMG.AX in the short, or perhaps even medium, term Main results story: ID:nL2N17V0B5 Further company coverage: VALE5.SA