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Vale closes Q1 2026 with higher profit, advance in iron ore, copper, and nickel sales, rise in adjusted Ebitda, and continuity of reparation programs in Brumadinho and Mariana
Vale’s profit reached R$ 9.953 billion in the first quarter of 2026, a 22% increase over the same period in 2025, driven by higher volumes, sales prices, and advances in ore, copper, and nickel.
Vale’s Profit Grows with Higher Revenue
Vale released its balance sheet to the market in recent days, showing growth in key financial indicators between January and March. In the same period last year, net profit had been R$ 8.164 billion.
Net revenue totaled R$ 48.680 billion in the quarter, a 3% increase compared to R$ 47.411 billion recorded a year earlier. Adjusted Ebitda reached R$ 20.105 billion, an 11% rise over R$ 18.189 billion.
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The mining company reported that the performance was sustained by higher volumes and sales prices. This effect, however, was partially offset by the appreciation of the real, which had a negative impact on the figures.
Iron Ore Saw Price and Volume Increase
Iron ore, the company’s main product, had an average selling price of US$ 95.8 per ton. This value represents a 5.5% growth compared to the first three months of 2025.
Iron ore sales grew 4% in volume year-on-year. Vale itself highlighted that sales of iron ore, copper, and nickel increased by 4%, 11%, and 15%, respectively.
Performance in base metals contributed to the result. Copper sales advanced 11%, while nickel sales grew 15% compared to the first quarter.
Result in Dollars Advances
In dollars, Vale’s profit was US$ 1.89 billion, a 36% growth year-on-year. Net revenue reached US$ 9.25 billion, a 14% increase.
Ebitda in dollars totaled US$ 3.83 billion in the quarter, a 23% advance. Investments, known as capex, reached US$ 1.1 billion during the period.
The invested amount was in line with the company’s annual projection, between US$ 5.4 billion and US$ 5.7 billion in 2026. Expanded net debt closed March at US$ 17.79 billion, a 2% annual decrease.
Costs and Reparations Remain on the Balance Sheet
Vale’s president, Gustavo Pimenta, stated that cost efficiency continues to be a central factor in preserving the mining company’s competitiveness. He said that the flexible portfolio allowed them to capture opportunities in a robust market environment.
The company reported that the full reparation of Brumadinho continues to advance, with approximately 81% of commitments completed by the first quarter of 2026, within the established deadlines.
In the case of Mariana, Samarco’s reparation program also continues to evolve. As of March 31, 2026, R$ 74.7 billion had been disbursed.
With information from Brasil 247.
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