Key Facts
• On July 22, Vale announced Q2 iron ore production rose 3.7% YoY to 83.6 million tons.
• Northern Brazil’s S11D mining site achieved record Q2 production, boosting overall output.
• Southeastern Brucutu mine also contributed to stable production growth.
• 2025 iron ore production is projected at 325–335 million tons.
• Q2 iron ore sales fell 3.1% YoY to 77.3 million tons.
• Average iron ore fines price dropped 13.3% YoY to $85.1 per ton.
• Copper production increased 18% YoY to 92,600 tons; sales rose 17% to 89,000 tons.
• Nickel production surged 44% YoY to 40,300 tons; sales grew 21% to 41,400 tons.
• Vale will release its Q2 financial results on July 31.
Summary
Brazilian mining giant Vale reported a 3.7% year-on-year increase in Q2 iron ore production, reaching 83.6 million tons. This growth was driven by record output at the S11D mining site in northern Brazil and stable production at the Brucutu mine in the southeast. Despite higher production, Q2 iron ore sales declined 3.1% to 77.3 million tons, with average prices dropping 13.3% to $85.1 per ton due to inventory replenishment and a focus on mid-grade products. Copper and nickel production saw significant year-on-year increases of 18% and 44%, respectively. Vale projects its 2025 iron ore production to reach 325–335 million tons and plans to release its Q2 financial results on July 31.
