Vale Records Highest Q2 Iron Ore Production Since 2018, Copper Output 6.3% Higher.

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Written by Amir Richani for IIR News Intelligence (Sugar Land, Texas)

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Summary

Vale achieved its strongest second-quarter iron ore production since 2018, while copper and nickel output increased year over year. The company plans to invest US$3.5 billion by 2030 to expand its copper portfolio.

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Strong Production Results

Vale recorded another solid operational quarter, with iron ore, copper and nickel output all averaging higher than in the same period last year. Iron ore, for its part, reached its highest level for a second quarter since 2018.

Iron ore production closed at 84.25 million tonnes, 0.8% higher than in the same quarter last year. For the first half of the year, Vale recorded volumes of 153.93 million tonnes, a 1.8% year over year increase.

The company's iron ore Southeastern System mines, which include Itabira, Minas Centrais and Mariana, helped offset some of the output declines at the Northern and Southern System by increasing production 15.6% year on year to 24.33 million tonnes during Q2.

This production increase was partly the result of the continued ramp-up of the Capanema mine, which was reopened in 2025.

For this year, the company is forecasting iron ore volumes between 335 million and 345 million tonnes.

Helping Vale regain the spot for the world's largest iron ore producer is the company's circularity initiative. In 2025, the company produced 26.3 million tonnes of iron ore from materials previously treated as waste, a 107% yearly increase. This type of circularity initiative accounted for 8% of the company's output in 2025; by 2030, the company expects to produce 10% of its iron ore volumes from reused materials.

Pellet production, however, reached 7.3 million tonnes in Q2, 7% lower year on year, due to the temporary suspension of the Oman pellet plants following developments in the Middle East conflict.

Meanwhile, Vale copper production reached 98,400 tonnes in Q2, 6.3% more than in the same quarter last year. The increase was the outcome of better performance from its Brazilian mines, Salobo and Sossego, which together produced 78,300 tonnes of copper.

Salobo produced 52,400 tonnes, its highest output on record for a second quarter.

Copper production from Vale's Canadian assets fell 6.9% to 20,100 tonnes, mainly due to planned maintenance and spring-runoff effects at Sudbury, where output declined 17.2% to 12,500 tonnes.

For this year, the Brazilian company is forecasting copper volumes ranging between 350,000 and 380,000 tonnes.

Despite its focus on iron ore, copper is increasingly central to the company's growth for the years to come. As an example, in February the company announced total investments of US$3.5 billion between 2026 and 2030 for the development of the Carajas region, aimed at further developing its copper assets and boosting production.

For nickel, the story is similar; Vale closed Q2 with volumes of 42,000 tonnes, a 4.2% year-on-year increase driven by strong performance from Onca Puma in Brazil and record volumes from the Long Harbour refinery in Canada.

Growing Portfolio

Vale is one of the world's largest miners with more than 211 projects worldwide being tracked by Industrial Info Resources and accounting for more than US$24.4 billion.

Key Takeaways

• Vale produced 84.25 million tonnes of iron ore in Q2, a 0.8% yearly increase.
• Copper and nickel output also trended higher during the last quarter.
• The company is set to increase its copper portfolio by investing US$3.5 billion by 2030.

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