Vale Reports Record Q1 Iron Ore Sales, Copper and Nickel Output Surge Double Digits

Gate News message, April 17 — Vale, the global iron ore giant, reported strong first-quarter production and sales performance, with multiple mining sites hitting record output levels.

Iron ore production totaled 69.7 million tonnes, up 3% (2 million tonnes) year-over-year, driven by record output from the S11D and Brucutu mines and continued capacity ramp-up at Capanema and VGR1 projects. Pellet production reached 8.2 million tonnes, up 14% (1 million tonnes), supported by improved performance at the Tubarao facility. Iron ore sales rose 4% (2.6 million tonnes) to 68.7 million tonnes, aligned with production growth. The average realized price for iron ore fines reached $95.8 per tonne, up $0.4 per tonne quarter-over-quarter, partially offset by negative pricing impacts from prior-period adjustments.

Copper production totaled 102,300 tonnes, up 13% (11,400 tonnes), with record output from Salobo and Sossego mines and solid performance from Voisey's Bay. The average realized price for copper reached $13,143 per tonne, up $2,140 per tonne, reflecting higher London Metal Exchange (LME) prices and favorable final price settlements.

Nickel production hit a five-year high for the quarter, with an average realized price of $17,015 per tonne, up $2,000 per tonne, driven primarily by LME price gains. Vale will release its complete first-quarter 2026 financial statements on April 28.