Brazilian mining company, Vale, has released updated production forecasts for the coming years. Iron ore output is projected to total 335 million mt in 2025, to rise between 335 and 345 million mt in 2026, and to reach 360 million mt by 2030. In December 2024, the production estimates for the years in question stood respectively at 325-335 million mt, 340-360 million mt and 360 million mt.
Agglomerated product volumes are expected to be 31 million mt in 2025, to increase to 30–34 million mt in 2026, declining compared to previous estimates, and climb significantly to 60–70 million mt by 2030. Vale also aims to produce 30 million mt of iron ore from rejects in 2030 as part of a new recovery operation.
On the sales front, Carajás medium grade product is forecasted at 33 million mt in 2025, and 50 million mt in 2026. Sales of PFC (Pellet Feed China) grade will total 26 million mt in 2025, and 40 million mt in 2026.
Iron Ore Solutions products sold in 2025 are expected to have an average iron content of 62.5 percent.
C1 production costs, which cover mining, rail, and port expenses, are estimated at $21.3/mt for 2025 and between $20/mt and $21.5/mt for 2026. All-in costs, which include C1 plus freight, other expenses, and premium charges, are projected at $55/mt for 2025 and between $52/mt and $56/mt for 2026.