- Brazil's Vale aims to regain iron ore crown
- Strong quarterly output spurs analysts to raise profit forecasts
- Copper and nickel output exceed projections
SAO PAULO, (Reuters) - Brazilian miner Vale's iron ore production rose to 336.1 million metric tons in 2025, the company said on Tuesday, marking the first time since 2018 that its output surpassed that of rival Rio Tinto's Pilbara operations in Australia.
Vale's production rose 2.6% last year from 2024, in line with the company's projection in December that it would produce around 335 million metric tons. In the fourth quarter of 2025, output stood at 90.4 million tons, up 6% year-on-year.
Analysts said the results from Vale, which also mines copper and nickel, beat expectations. Citi and RBC projected a 2% and 7% upside consensus revision, respectively, for Vale's fourth-quarter core profit, which will be released in February.
VALE VS RIO TINTO
Vale lost its position as the world's largest iron ore producer in 2019 to Rio Tinto, following the collapse of a dam in the Brazilian city of Brumadinho, which killed over 250 people and triggered a safety review of the firm's projects.
However, Vale has been scaling up its iron ore production in the last few years, and in 2025 achieved its highest output since 2018. Chief Executive Gustavo Pimenta has said the firm is aiming to regain the title of world's largest iron ore producer.
Rio Tinto reported last week 2025 iron ore production of 327.3 million metric tons extracted from its flagship Pilbara mines. Its total iron ore output, including operations in Canada, reached 336.6 million tons, just topping Vale's, and is poised to stay ahead in 2026 with new production from Guinea.
In 2018, the last time Vale surpassed Rio Tinto's Pilbara output, the Brazilian company produced 384.6 million tons of iron ore, while Rio Tinto's Pilbara mines produced 337.8 million tons.
Vale affirmed it expects to produce between 335 million and 345 million tons of iron ore this year.
In its report, Vale said its quarterly iron ore production was driven by a robust performance in its Brucutu mining complex and a ramp-up at its Capanema and VGR1 projects, all of them located in Brazil.
Vale said it sold 314.4 million tons of iron ore in 2025, a 2.5% rise from 2024. In the September-December quarter, shipments rose 4.5% to 84.9 million tons.
COPPER ALSO AT SEVEN-YEAR HIGH
Vale's copper output surged nearly 10% in 2025, to about 382,400 tons, also marking the company's highest since 2018. The figure beat the most recent projection from the company, which stood at 370,000 tons.
The miner, which aims to nearly double its copper production by 2035, said output at its main copper mining complex of Salobo, in Brazil, reached a record high in the fourth quarter.
Vale also produced some 177,200 tons of nickel in 2025, the highest since 2022 and an almost 11% increase. It came above the company's projection of 175,000 tons.
Reporting by Andre Romani and Roberto Samora in Sao Paulo; Editing by Iñigo Alexander and Sonali Paul
Source: Reuters