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Vale expects iron ore, copper, and nickel production to increase in the second quarter of 2025
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Release time：2025-07-24
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Vale's iron ore production this year is expected to be between 325 million and 335 million tons.
Vale, the Brazilian mining company, reported that iron ore production in the second quarter of 2025 (Q2 2025) will increase to 83.6 million tons, a 4% year-on-year increase. This growth is mainly attributed to the "strong performance" of the Brucutu mine after the commissioning of the fourth processing line, and the "record" quarterly production achieved by the S11D mining project in northern Brazil. However, pellet production decreased by 12% year-on-year to 7.9 million tons, consistent with the revised 2025 production guidance under current market conditions. Iron ore sales also decreased by 3% to 77.3 million tons, affected by Vale's strategy of prioritizing medium-grade products. To address market dynamics, Vale plans to conduct preventive maintenance on the São Luís pellet plant ahead of schedule and suspend production in the third quarter of 2025.
The pellet feed originally used for pelletizing will be diverted to iron ore fines sales to optimize the value of the product portfolio. The average realized price of iron ore fines dropped to US$85.1 per ton, down US$5.7 per ton from the previous quarter, mainly due to the decline in iron ore benchmark prices. Similarly, the average realized price of pellets fell by US$6.7 per ton to US$134.1 per ton, reflecting the downward trend in iron ore prices. Despite these challenges, Vale expects iron ore production to reach 325 to 335 million tons this year.
Vale's copper production also increased by nearly 18% to approximately 92,600 tons, the "highest" second-quarter production since 2019. This growth is attributed to improved grades at the Sossego mine in Brazil, the nominal capacity of the Salobo complex, and the expansion project at the Voisey's Bay mine in Canada. Copper sales increased accordingly by 17% to approximately 89,000 tons. Nickel production surged by 44% to approximately 40,300 tons, driven by improved performance from Canadian assets and Onça Puma, and reduced planned maintenance activities. Nickel sales also increased by nearly 20.7% to approximately 41,400 tons, the "highest" second-quarter production since 2021. The mining company stated in a release: "In the iron ore area, the addition of new assets and improved operational reliability are supporting the company's stricter execution of the 2025 production plan. The continued improvement in nickel and copper operations, driving record second-quarter production since 2021 and 2019 respectively, consolidates the upward trend."
Last month, Vale stated that its Carajás complex in northern Brazil will stop using water in its iron ore processing by 2027.
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