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com.liferay.portal.kernel.util.DateUtil_IW@696489c8
com.liferay.portal.kernel.util.DateUtil_IW@696489c8

Vale's Production and Sales performance for 1Q24 is now available.

The 1Q24 report was released on Tuesday, April 16th.
Below you can see the main highlights, as well as the full report:
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Highlights

  • Vale’s Q1 performance was marked by robust iron ore sales, which increased by 15% y/y, and by consistent improvement in iron ore operations. On copper, Salobo 3 reached ~90% average throughput rate in the quarter. On nickel, Canadian and Indonesian operations delivered stronger performance y/y.
     
  • Iron ore production totaled 70.8 Mt, increasing 6% y/y, driven by S11D’s improved operating performance, continued asset reliability initiatives and higher 3rd party purchases. Pellets production totaled 8.5 Mt, up 2% y/y, driven by higher pellet feed availability. Iron ore sales reached 63.8 Mt in 1Q24, 15% higher y/y. 
     
  • Copper production totaled 81.9 kt, 22% higher y/y, driven by a continued solid ramp-up at Salobo 3, as well as by better operational performance at the Salobo 1 & 2 plants. 
     
  • Nickel production totaled 39.5 kt, decreasing by 4% y/y, mainly reflecting the Onça Puma furnace rebuild, partially offset by stronger performance at the Canadian and Indonesian operations. 

Download the 1Q24 Production and Sales report

Check out the results of our main products below:

Odottamaton virhe tapahtui.
  • Salobo: copper production increased by 15.6 kt y/y mainly due to the continued ramp-up at Salobo 3, which reached ~90% average throughput in Q1. Salobo 1 & 2 plants also posted strong performance in the quarter, with 14% higher throughput rate, 10% higher productivity and 3% higher asset availability y/y. On a sequential basis, production decreased by 6.8 kt, mainly due to lower feed grades, which was expected as per the mine development plan.  
     
  • Sossego: copper production decreased by 1.0 kt y/y and 9.1 kt q/q due scheduled maintenance shutdown and lower ore grades, as expected. Maintenance works are anticipated to be completed by late April. In January, the SAG mill achieved record results, namely: (i) highest monthly throughput since August 2018, (ii) highest productivity since October 2018 and (iii) highest operational efficiency since December 2020.  
     
  • Canada: copper production was 0.4 kt higher y/y and decreased by 1.1 kt q/q. Copper production was positively impacted by a 1.6 kt increase in production from Canadian mines, especially as result of an 8% y/y increase in own sourced ore production at the Clarabelle mill in Sudbury. The weaker q/q performance was impacted by the winter season at the Thompson site.  
     
  • Payable copper sales totaled 76.8 kt in the quarter, up 14.1 kt y/y and down 20.7 kt q/q, in line with production levels.  
     
  • Average copper realized price was US$ 7,687/t, 3% lower q/q, mainly a result of the impact of purchase price adjustments in Q4. 
Odottamaton virhe tapahtui.

Financial Report 1Q24

The 1Q24 Financial Report will be released on April 24th. Following the release, our key executives will host a webcast (real-time audio conference call) with analysts and investors on April 25th to discuss the quarter's results