Vale’s Q2 performance was marked by a significant 7.3% y/y increase in iron ore sales and consistent performance at S11D, achieving record production for a second quarter. On copper, Salobo production increased 8% y/y. On nickel, production sourced from Voisey’s Bay increased 41% y/y on the back of VBME ramp-up.

Iron ore production reached 80.6 Mt in Q2, 1.9 Mt higher y/y, supported by a robust performance at S11D and Vargem Grande. This quarter’s performance reinforces our confidence in achieving the upper end of the 2024 production guidance. Pellets production totaled 8.9 Mt, slightly lower y/y. Iron ore sales reached 79.8 Mt, 5.4 Mt (+7.3%) higher y/y.

Copper production totaled 78.6 kt, flat y/y, as a better performance at the Salobo 1&2 and Sossego plants was offset by the bi-annual maintenance in Sudbury.

Nickel production totaled 27.9 kt, 24% lower y/y, mainly reflecting the planned maintenance strategy at the nickel processing plants.