Vale (VALE3) reported iron ore production of 84.3 million tonnes (Mt) in the second quarter of 2026 (2Q26), an increase of 0.8% compared with 2Q25. Iron ore sales totaled 79.7 Mt in the period, up 3.1% on the same basis of comparison, supported by the sale of inventories built up in previous quarters and by higher production.
In 2Q26, iron ore production was supported by a record at S11D, which reached 23.4 Mt, and by additional volumes from the Capanema and VGR1 projects. The Northern System produced 39.6 Mt, down 4.0% year over year, while the Southeastern System rose 15.6% to 24.3 Mt, and the Southern System fell 7.7% to 12.1 Mt, impacted by the shutdown of Fábrica and Viga operations since January 2026.
Pellet production reached 7.3 Mt in 2Q26, a 7.0% drop compared with 2Q25, in line with the temporary suspension of pelletizing plants in Oman during part of the quarter. Pellet sales totaled 7.7 Mt, up 3.5% year over year. The all-in iron ore premium, adjusted to the 61% Fe index, was US$ 4.4 per tonne, with an average realized price of US$ 95.0 per tonne for iron ore fines and US$ 137.0 per tonne for pellets in the quarter.
In base metals operations, copper production totaled 98.4 thousand tonnes (kt) in 2Q26, an increase of 6.3% compared with the same period of 2025, driven by the performance of Brazilian assets, with 78.3 kt, including a quarterly record at Salobo and higher production at Sossego. Copper sales were 97.6 kt, up 9.7% year over year, with an average realized price of US$ 14,062 per tonne, considering only the copper operations at Salobo and Sossego.
Nickel production reached 42.0 kt in 2Q26, an increase of 4.2% compared with 2Q25, with highlights including Onça Puma, which produced 9.4 kt, almost double the level recorded a year earlier, and the highest quarterly nickel volume at the Long Harbour refinery. Nickel sales totaled 44.4 kt, 7.2% above the previous year and 2.4 kt higher than production, reflecting inventory drawdowns during scheduled maintenance at refineries. The average realized nickel price was US$ 18,061 per tonne in the quarter.
