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Photographer: Vale’s Archive 
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Photographer: Vale’s Archive 

Vale's Sales and Production performance for 4Q22 is now available.

Vale’s Q4 performance was marked by strong iron ore fines and nickel sales, up 24% and 30% q/q respectively, converting into sales the inventories formed in the previous quarter. 
Below you can see the main highlights, as well as the full report: 
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Photographer: Marcelo Coelho 

Highlights 

Iron ore production totaled 308 Mt in 2022, 2% lower y/y, mainly due to licensing delays at Serra Norte; and jaspilite waste processing and operational performance at S11D. This was partially offset by continued production ramp-up at Vargem Grande; higher dry processing production at Brucutu; and higher third-party purchase. 
Pellets production totaled 32 Mt in 2022, up 1% y/y, with an improved mix of direct reduction pellets (49% of total production vs. 41% in 2021), leveraging on the higher-quality feed and taking advantage of better market premiums. 
Iron ore fines and pellets sales increased 22% q/q, totaling 90 Mt, boosted by the drawdown of in-transit inventories formed in Q3. All-in premium totaled US$ 5.4/t. 
Nickel production grew 6% in 2022 to 179 kt, largely due to the stabilization of Sudbury operations after the labor strike in 2021, as well as consistent and strong performance at Onça Puma. This was partially offset by lower feed availability owing to PTVI furnace rebuild and the later ramp-up of VBME. 
Nickel sales were 31% higher q/q and 23% greater than the quarterly production, as expected, following the inventory buildup in Q3 to meet sales commitments during planned maintenance at Long Harbour and Matsusaka in Q4. 
Copper production decreased 15%, totaling 253 kt in 2022, due to extended maintenance at Sossego mill during the first half of the year, and additional maintenance required at both Sossego and Salobo. This was partially offset by higher production in Canada owing to the stabilization of Sudbury mines and the recovery of copper from copper precipitates in Thompson, reducing waste as part of our approach to circular mining. 
Copper sales were in line q/q, despite lower production mainly due to the sale of inventories of Thompson copper precipitate and Voisey’s Bay concentrate, in-line with sales commitments. 

Download the 4Q22 Sales and Production report

Photographer: Marcelo Coelho

Financial Report 4Q22

The 4Q22 financial report will be released on February 16th. Following the release, our key executives will host a webcast (real-time audio conference call) with analysts and investors on February 17th to discuss the quarter's results.