Vale/CEO: New cave decree could unlock 50M t iron ore/year

Vale’s CEO has indicated that a new cave decree could potentially unlock an additional 50 million tons of iron ore production annually, according to recent statements. This potential increase is part of the company’s broader strategic focus on expanding production capacity and adapting to evolving global demand patterns. Vale has already adjusted its 2026 iron ore production forecast to 335–345 million tons, down from the previous range of 340–360 million tons. The company expects to produce approximately 335 million tons in 2025 and anticipates a gradual increase in sinter production, which is forecast to reach 30–34 million tons in 2026 and grow to 60–70 million tons by 2030.

The potential boost from the cave decree aligns with Vale’s New Carajás Program, which includes R$70 billion in investments between 2025 and 2030. This initiative aims to expand iron ore and copper production, with iron ore output in Carajás projected to reach 200 million tons per year by 2030. Vale’s strategic planning also emphasizes sustainable mining practices and the global energy transition, including the production of high-quality iron ore for green steel and copper for electric vehicle manufacturing.