Gustavo Pimenta, the CEO of the Brazilian iron ore miner Vale, has announced plans to position the company as the world’s largest iron ore producer.
Pimenta mentioned that Vale was previously the world’s largest iron ore producer until the 2019 accident involving the Córrego do Feijão Dam in Brumadinho, which caused a significant halt in operations across different mining areas.
In 2019, Vale reported a production of 301.907 million mt, making it second to Rio Tinto, which produced 326.700 million mt that year. For 2025, Rio Tinto has a production guidance of 323 to 338 million mt, while Vale plans to produce between 325 and 335 million mt of iron ore.
Looking ahead, Pimenta anticipates a production of 360 million mt per year and expects Vale to achieve the status of the iron ore miner with the largest market capitalization. Currently, Vale's market capitalization is estimated at $43.55 billion, compared to $122.1 billion for BHP and $98.85 billion for Rio Tinto. Eight other iron ore miners also have market capitalizations higher than Vale’s.
Pimenta noted that by 2010, Vale was ranked second in global market capitalization but lost this position due to both the Brumadinho accident and the Samarco accident in 2015. He added that the plan to increase Vale’s market capitalization focuses on operational stability, safety improvements, and the development of its mineral assets.