Vale’s 2025 Iron Ore Hits 336M Tons, Q4 EBITDA Climbs 17% to $4.8B
Vale reported 336 million tons of iron ore production in 2025, with copper and nickel output up 10% and 11%, respectively, and achieved a 17% year-over-year increase in Q4 pro forma EBITDA to $4.8 billion. The company reduced net debt to $15.6 billion, trimmed nickel all-in costs by 35% and lowered iron ore all-in costs to $54 per ton while eliminating all high-risk Level 3 dams.
1. Full Year 2025 Production Exceeds Guidance
Vale reported record 2025 production, delivering 336 million tons of iron ore while copper and nickel output rose 10% and 11% year-on-year, surpassing guidance across all key mineral segments.
2. Q4 EBITDA Growth and Financial Discipline
In Q4 2025 pro forma EBITDA climbed 17% year-over-year to $4.8 billion, driven by a more than two-fold increase in the base metals division’s contribution. The company further reduced net debt to $15.6 billion, cut nickel all-in costs by 35% and lowered iron ore all-in costs to $54 per ton.
3. Safety and Sustainability Milestones
Vale achieved its safety and sustainability target by eliminating all high-risk Level 3 dams by the end of 2025, reinforcing its commitment to operational safety and environmental standards.
4. Novo Carajás Program and Strategic Outlook
To unlock further value, Vale launched the Novo Carajás program aiming to double copper output and is focusing on operational reliability in its nickel business, with a goal of achieving cash flow neutrality by the end of 2026.