Vale sees higher 2026 copper, nickel output after investments

The Salobo mine is the largest copper deposit ever discovered in Brazil. (Image by Salviano Machado | Vale.)

Brazilian mining giant Vale said on Thursday that an asset review initiative and investments in the key Sudbury and Salobo plants might lead to growth in its 2026 copper and nickel output when compared to its baseline scenario.

Vale sees potential copper output in 2026 between 394,000 metric tons and 431,000 tons, about 5% higher than a December estimate, it said in a securities filing.

Nickel production, meanwhile, might come in at between 209,000 tons and 231,000 tons, up 10% from Vale’s baseline scenario for that year.

Vale said the new forecasts come as it plans to disburse $800 million in the next three years under its energy transition metals asset review initiative.

The miner said $650 million would be directed to investments in capacity run rate and reliability, while the remainder would be allocated to improve the performance of Sudbury and Salobo – key copper and nickel assets in Canada and Brazil, respectively.

The broad review, which also takes into account a 30% production uplift in Sudbury and lower costs, could add $400 million to Vale’s earnings before interest, amortization and depreciation (EBITDA) by 2026, the company added.

(By Peter Frontini; Editing by Gabriel Araujo)


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