Vale S.A. Q3 2025 Financial and Operational Highlights

Vale S.A. reported strong financial and operational results for Q3 2025, with net operating revenues increasing by 9% year-over-year to US$10.42 billion. Adjusted EBITDA rose by 21% to US$4.37 billion, driven by higher sales volumes, cost efficiencies, and favorable commodity prices. Iron ore, copper, and nickel sales saw significant growth, with iron ore fines sales increasing by 8% to 75.02 million metric tons. The company achieved a recurring free cash flow of US$1.56 billion, up 205% year-over-year, supported by robust EBITDA performance. Vale also made progress on key growth projects, including the successful start-up of the Onça Puma 2nd furnace, which added 15 ktpy of nickel capacity. The company remains committed to safety and environmental sustainability, with no dams classified at emergency level 3.