Vale SA announced robust production and sales figures for the first quarter, with several mining complexes achieving record output levels. In iron ore, increased capacity from new assets supported sustained production growth, while sales volumes reached their highest level for a first quarter since 2018. Total iron ore production reached 69.7 million metric tons, a 3% increase (2 million tons) year-over-year, primarily driven by record production at the S11D and Brucutu sites, along with continued ramp-ups at the Capanema and VGR1 projects. Pellet production totaled 8.2 million tons, up 14% (1 million tons) from the prior year, mainly due to improved performance at the Tubarão pellet plant. Iron ore sales increased by 4% (2.6 million tons) to 68.7 million tons, consistent with the production growth trend. The average realized price for iron ore fines was $95.8 per ton, up $0.4 per ton from the previous quarter, partially offset by negative effects from pricing mechanisms related to prior-period provisional price adjustments.

Copper production totaled 102,300 tons, a 13% increase (11,400 tons) year-over-year, driven mainly by record output at the Salobo and Sossego mines, as well as solid performance from the Voisey's Bay polymetallic operation. Both copper and nickel operations achieved double-digit production growth. Copper output marked the strongest first-quarter performance since 2017, while nickel production reached its highest level for the same period since 2020. The average realized price for copper was $13,143 per ton, an increase of $2,140 per ton from the prior quarter, reflecting higher LME prices and favorable final price settlements under the current pricing environment. The average realized nickel price was $17,015 per ton, up $2,000 per ton quarter-over-quarter, largely driven by rising LME prices.

Vale's complete financial statements for the first quarter of 2026 will be released on April 28.