Vale Sees 2026 Iron Ore All-In Costs at US$ 58-62 per Ton

• Vale expects to meet 2026 iron ore production guidance of 335 million–345 million metric tons.
• Fourth-quarter output should recover as Serra Norte production rises and Fábrica restarts, following third-quarter operating restrictions.
• Iron ore C1 cash cost guidance remains USD 22.5–23.5 per ton; all-in costs are forecast at USD 58–62 per ton.
• Copper output is tracking toward the upper half of 360,000–380,000 tons; nickel is heading toward the upper half of 185,000–200,000 tons.
• The approximately USD 215 million Salobo CPF project is expected to start in the first half of 2028, adding about 30,000 copper tons annually.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Vale SA published the original content used to generate this news brief on October 30, 2026, and is solely responsible for the information contained therein.