Brazilian mining giant Vale recorded iron ore production of 336.1 million metric tonnes in 2025, its highest level in seven years, and the first time since 2018 that its output exceeded that of Rio Tinto’s Pilbara operations in Australia.
Vale said production rose 2.6% year-on-year, broadly in line with its guidance of around 335 million tonnes. Fourth-quarter output reached 90.4 million tonnes, representing a 6% increase compared with the same period in 2024. Analysts said the results exceeded expectations, with Citi and RBC forecasting upside revisions of 2% and 7%, respectively, to Vale’s fourth-quarter core profit, due for release in February.
Vale lost its position as the world’s largest iron ore producer in 2019 following the Brumadinho dam collapse, which triggered sweeping safety reviews and constrained output. Since then, the company has steadily rebuilt production capacity. Chief executive Gustavo Pimenta has stated that Vale is targeting a return to the top position globally.
By comparison, Rio Tinto reported 327.3 million tonnes of iron ore production from its Pilbara mines in 2025. Including Canadian operations, Rio Tinto’s total iron ore output reached 336.6 million tonnes, narrowly surpassing Vale overall. Rio Tinto is expected to maintain its lead in 2026 as new production comes online in Guinea.
Vale expects to produce between 335 million and 345 million tonnes of iron ore in 2026, supported by strong performance at the Brucutu mining complex and production ramp-ups at the Capanema and VGR1 projects in Brazil. Iron ore sales totalled 314.4 million tonnes in 2025, up 2.5%, with fourth-quarter shipments rising 4.5% to 84.9 million tonnes.
Beyond iron ore, Vale also reported a seven-year high in copper production, with output rising nearly 10% to 382,400 tonnes, exceeding company guidance. Production at the Salobo copper complex reached a record level in the fourth quarter. Nickel output increased by almost 11% to 177,200 tonnes, the company’s highest since 2022 and above its annual forecast.