Vale sees 2026 iron ore all-in costs at US$58-62 per ton
VALE•VALE•VALE•VALE•Vale expects 2026 iron ore production of 335 million–345 million metric tons and all-in costs of US$58–62 per ton. Copper and nickel output are tracking toward the upper halves of their respective guidance ranges.
Vale expects to meet its 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 costs are guided at US$22.5–23.5 per ton, with all-in costs forecast at US$58–62 per ton.
Copper output is tracking toward the upper half of the 360,000–380,000-ton guidance range, while nickel is heading toward the upper half of its 185,000–200,000-ton range. The approximately US$215 million Salobo CPF project is expected to start in the first half of 2028 and add about 30,000 tons of copper annually.
