Highlights
Iron ore production increased 6% y/y driven by a record output for a second quarter at S11D, followed by solid performance at Itabira and Vargem Grande complexes, improving Vale’s average product portfolio quality. Pellet production increased 5% y/y driven by the higher production at Tubarão plants as a result of higher pellet feed production.
Iron ore fines and pellet sales increased 1% y/y as Ponta da Madeira Terminal restored productivity during Q2, after restrictions due to heavy rains affected shipments and sales in Q1.
Copper production increased 41% y/y and 18% q/q largely attributed to the successful ramping up of Salobo III plant and the improved performance of the Sossego operation. Copper sales increased 43% y/y and 18% q/q as result of higher production volumes.
Nickel production increased 8% y/y largely attributed to better operational performance in Sudbury and Indonesia. Nickel sales increased 3% y/y driven by improved production, remaining relatively stable q/q due to inventory buildup in Q1.

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