Brazilian mining giant Vale has revised its iron ore production forecasts. For 2024, production is expected to reach 328 million metric tons (mt). In 2025, the volume is projected to be between 325 and 335 million mt, increasing to 340 to 360 million mt in 2026, and reaching 360 million mt by 2030.
For agglomerated products, including pellets and briquettes, production is forecasted to be 38 million mt in 2024, 38 to 42 million mt in 2025, 45 to 50 million mt in 2026, and 60 to 70 million mt by 2030.
The average iron content of Vale’s iron ore products is expected to be 62.3% in 2024, 62.5% in 2025, 63% in 2026, and between 63% and 64% by 2030.
The cash cost for iron ore production is projected to be $22/mt in 2024, $20.5 to $22/mt in 2025, below $20/mt in 2026, and between $18 and $19.5/mt by 2030. These costs include main production expenses such as mining, railroad, and port costs, but exclude iron ore acquisitions from third parties.
