Vale Achieves Highest Iron Ore Output Since 2018, Eyes Upper Range of 2025 Targets

Brazilian mining giant Vale S.A. has reported its strongest quarterly iron ore production since 2018, highlighting robust operational performance and progress toward its 2025 goals. The company produced 94.4 million metric tons of iron ore in the third quarter of 2025, marking a 3.8% year-on-year increase. This achievement was fueled by record output at the S11D project in northern Brazil and the continued ramp-up of other mining sites.

Vale reaffirmed its 2025 production guidance, estimating iron ore output between 325 million and 335 million tons. With 245.7 million tons already produced in the first nine months, the miner is on pace to reach the upper end of this range. In its latest report, Vale emphasized that its iron ore, copper, and nickel divisions are all performing near the upper limits of their respective production forecasts.

Iron ore sales, including pellets, climbed 5.1% year-over-year to 86 million tons, supported by a 4.2% increase in realized prices to $94.4 per ton. Analysts from Citi, led by Alexander Hacking, described the results as “solid,” suggesting the performance should prompt a modest uptick in Vale’s share price. They noted that the miner remains “well on track” to meet or exceed the midpoint of its production targets.

Vale’s copper output rose 5.7% to 90,800 tons, driven by consistent production at Brazil’s Salobo mine and higher concentrate volumes from Canada. Meanwhile, nickel production slipped 0.6% to 46,800 tons, impacted by maintenance at the Copper Cliff refinery, which offset record production from Long Harbour, both in Canada.

The company is set to release its full earnings report on October 30, which investors will watch closely for further guidance on pricing trends and global demand outlook.