• Vale outlined strategy centered on scaling iron ore output to about 360 million metric tons from 336 million metric tons, with S11D +20 start-up targeted for second half of 2026.
• Iron ore free cash flow for 2026 was shown at about USD 1.5 billion at spot assumptions, including about USD 425 million cash contribution from hedging programs.
• Copper growth plan targets about 700,000 metric tons of annual production by 2035, up from 348,000 metric tons in 2024, supported by about 8 million metric tons of contained copper reserves and about 31 million metric tons of measured and indicated resources.
• Nickel and polymetallics segment highlighted first-quarter 2026 AISC of about USD 10,700 per metric ton, with sensitivity showing 2026 nickel EBITDA of about USD 1.15 billion to USD 2 billion across USD 16,000 per metric ton to USD 20,000 per metric ton price scenarios.
• Slides showed 2026 free cash flow yield at 7% versus diversified peers at 4.4% to 4.9%.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Vale SA published the original content used to generate this news brief on May 12, 2026, and is solely responsible for the information contained therein.