The Brazilian mining company Vale reported a 4.5% decrease in iron ore production in the first quarter of 2025 compared to the same period last year, as well as a 20.7% decline compared to the previous quarter, totaling 67.7 million tons. The company’s announcement noted that weather conditions significantly impacted production volumes.
This is reported by Бізнес • Медіа
Production Decline and Sales Growth
In the first quarter, pellet production amounted to 7.2 million tons, which is 15.2% lower than last year’s figures. However, iron ore sales increased by 3.6% year-on-year, reaching 66.1 million tons, thanks to supply chain flexibility and the use of inventories.
Vale’s forecast for iron ore production in 2025 remains unchanged — within the range of 325–335 million tons, while pellet production is expected to be between 38–42 million tons. Meanwhile, for the year 2024, the company achieved its highest level of iron ore production since 2018 — 327.67 million tons, which is 2% more than the previous year. Pellet production rose by 1.2%, totaling 36.89 million tons.
Production Dynamics and Investment Strategy
In the fourth quarter of 2024, iron ore production decreased by 4.6% to 85.28 million tons, while pellet production fell by 6.9% to 9.17 million tons. At the same time, the company plans to continue investing in development, allocating 70 billion Brazilian reais (approximately 12.2 billion USD) by 2030 to expand iron ore and copper production at the Carajás complex in northern Brazil — the largest in the company, located in the state of Pará.
“Investments will be directed towards expanding production and improving infrastructure, allowing the company to strengthen its position in the global iron ore market.”